Wendell David Associates Inc Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Wendell David Associates Inc reduced its stake in Abbott Laboratories by 5.3% during the most recent quarter end. The investment management company now holds a total of 232,160 shares of Abbott Laboratories which is valued at $9,901,624 after selling 12,994 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Abbott Laboratories makes up approximately 1.89% of Wendell David Associates Inc’s portfolio.

Other Hedge Funds, Including , North American Management Corp boosted its stake in ABT in the latest quarter, The investment management firm added 446,343 additional shares and now holds a total of 463,601 shares of Abbott Laboratories which is valued at $19,772,583. Abbott Laboratories makes up approx 3.19% of North American Management Corp’s portfolio.Hartford Financial Management reduced its stake in ABT by selling 102 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 57,698 shares of ABT which is valued at $2,429,086. Abbott Laboratories makes up approx 1.41% of Hartford Financial Management’s portfolio.Beacon Financial Group boosted its stake in ABT in the latest quarter, The investment management firm added 516 additional shares and now holds a total of 14,628 shares of Abbott Laboratories which is valued at $613,937. Abbott Laboratories makes up approx 0.13% of Beacon Financial Group’s portfolio.

Abbott Laboratories opened for trading at $42.8 and hit $42.92 on the upside on Wednesday, eventually ending the session at $42.65, with a gain of 2.03% or 0.85 points. The heightened volatility saw the trading volume jump to 1,36,86,493 shares. Company has a market cap of $62,659 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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