Deltec Asset Management adds Abbott Laboratories (ABT) to its portfolio

Abbott Laboratories (ABT) : Deltec Asset Management added new position in Abbott Laboratories during the most recent quarter end. The investment management firm now holds 106,000 shares of Abbott Laboratories which is valued at $4,629,020 , the company said in a statement filed on Jul 26, 2016 with the SEC.Abbott Laboratories makes up approximately 1.11% of Deltec Asset Management’s portfolio.

Other Hedge Funds, Including , Sigma Planning Corp reduced its stake in ABT by selling 34,821 shares or 54.62% in the most recent quarter. The Hedge Fund company now holds 28,926 shares of ABT which is valued at $1,248,735. Abbott Laboratories makes up approx 0.16% of Sigma Planning Corp’s portfolio.Eastern Bank reduced its stake in ABT by selling 400 shares or 2.43% in the most recent quarter. The Hedge Fund company now holds 16,043 shares of ABT which is valued at $675,250. Abbott Laboratories makes up approx 0.05% of Eastern Bank’s portfolio.Boys Arnold Co Inc boosted its stake in ABT in the latest quarter, The investment management firm added 38,991 additional shares and now holds a total of 76,471 shares of Abbott Laboratories which is valued at $3,218,664. Abbott Laboratories makes up approx 0.54% of Boys Arnold Co Inc’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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