United Bank Va buys $3,438,663 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : United Bank Va scooped up 1,200 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 78,742 shares of Abbott Laboratories which is valued at $3,438,663.Abbott Laboratories makes up approximately 3.24% of United Bank Va’s portfolio.

Other Hedge Funds, Including , Butensky Cohen Financial Security Inc boosted its stake in ABT in the latest quarter, The investment management firm added 2,065 additional shares and now holds a total of 34,252 shares of Abbott Laboratories which is valued at $1,495,785. Abbott Laboratories makes up approx 1.45% of Butensky Cohen Financial Security Inc’s portfolio.Trust Co Of Virginia Va reduced its stake in ABT by selling 2,125 shares or 5.6% in the most recent quarter. The Hedge Fund company now holds 35,845 shares of ABT which is valued at $1,508,716. Abbott Laboratories makes up approx 0.26% of Trust Co Of Virginia Va’s portfolio.Patton Albertson Miller Group reduced its stake in ABT by selling 2,517 shares or 5.83% in the most recent quarter. The Hedge Fund company now holds 40,678 shares of ABT which is valued at $1,707,256. Abbott Laboratories makes up approx 0.75% of Patton Albertson Miller Group’s portfolio.Rosenbaum Jay D. boosted its stake in ABT in the latest quarter, The investment management firm added 1,560 additional shares and now holds a total of 38,565 shares of Abbott Laboratories which is valued at $1,615,488. Abbott Laboratories makes up approx 0.22% of Rosenbaum Jay D.’s portfolio.

Abbott Laboratories opened for trading at $44.38 and hit $45.12 on the upside on Friday, eventually ending the session at $44.75, with a gain of 0.67% or 0.3 points. The heightened volatility saw the trading volume jump to 1,34,23,155 shares. Company has a market cap of $65,745 M.

On the company’s financial health, Abbott Laboratories reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.53. The company had revenue of $5333.00 million for the quarter, compared to analysts expectations of $5244.94 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Abbott Laboratories. Abbott Laboratories was Upgraded by Edward Jones to ” Buy” on Jun 21, 2016.

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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