Somerville Kurt F buys $7.6 Million stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Somerville Kurt F scooped up 4,015 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 27, 2016. The investment management firm now holds a total of 193,802 shares of Abbott Laboratories which is valued at $7.6 Million.Abbott Laboratories makes up approximately 1.74% of Somerville Kurt F’s portfolio.

Other Hedge Funds, Including , Kidder Stephen W boosted its stake in ABT in the latest quarter, The investment management firm added 3,650 additional shares and now holds a total of 111,930 shares of Abbott Laboratories which is valued at $4.4 Million. Abbott Laboratories makes up approx 1.77% of Kidder Stephen W’s portfolio.Cypress Capital Group reduced its stake in ABT by selling 50,624 shares or 39.86% in the most recent quarter. The Hedge Fund company now holds 76,384 shares of ABT which is valued at $2.9 Million. Abbott Laboratories makes up approx 0.71% of Cypress Capital Group’s portfolio.Guggenheim Capital reduced its stake in ABT by selling 5,614 shares or 0.69% in the most recent quarter. The Hedge Fund company now holds 813,496 shares of ABT which is valued at $30.6 Million. Abbott Laboratories makes up approx 0.10% of Guggenheim Capital’s portfolio.Zions Bancorporation boosted its stake in ABT in the latest quarter, The investment management firm added 38 additional shares and now holds a total of 8,428 shares of Abbott Laboratories which is valued at $316,893. Abbott Laboratories makes up approx 0.06% of Zions Bancorporation’s portfolio.Bank Of Nova Scotia Trust Co reduced its stake in ABT by selling 47,865 shares or 58.47% in the most recent quarter. The Hedge Fund company now holds 33,995 shares of ABT which is valued at $1.3 Million. Abbott Laboratories makes up approx 0.17% of Bank Of Nova Scotia Trust Co’s portfolio.

Abbott Laboratories closed down -0.24 points or -0.61% at $38.93 with 1,02,02,655 shares getting traded on Tuesday. Post opening the session at $39.12, the shares hit an intraday low of $38.92 and an intraday high of $39.28 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Abbott Laboratories reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.39. The company had revenue of $4885.00 million for the quarter, compared to analysts expectations of $4777.68 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Abbott Laboratories. Company shares were Reiterated by RBC Capital Mkts on Apr 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .

Abbott Laboratories (Abbott) is engaged in the discovery development manufacture and sale of a range of health care products. Abbott operates in four business segments: Established Pharmaceutical Products Diagnostic Products Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products. The Diagnostic Products segment includes the sales of a line of adult and pediatric nutritional products. The Nutritional Products includes the sales of diagnostic systems and tests for blood banks hospitals commercial laboratories and alternate-care testing sites. The Vascular Products includes the sales of coronary endovascular structural heart vessel closure and other medical device products.

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