Ironsides Asset Advisors buys $1,562,077 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Ironsides Asset Advisors scooped up 11,832 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 34,682 shares of Abbott Laboratories which is valued at $1,562,077.Abbott Laboratories makes up approximately 0.46% of Ironsides Asset Advisors’s portfolio.

Other Hedge Funds, Including , Fayez Sarofim Co reduced its stake in ABT by selling 16,890 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 5,265,720 shares of ABT which is valued at $237,168,029. Abbott Laboratories makes up approx 1.28% of Fayez Sarofim Co’s portfolio.Provident Investment Management reduced its stake in ABT by selling 1,900 shares or 16.24% in the most recent quarter. The Hedge Fund company now holds 9,801 shares of ABT which is valued at $441,535. Abbott Laboratories makes up approx 0.09% of Provident Investment Management’s portfolio. Argent Trust Co added ABT to its portfolio by purchasing 27,719 company shares during the most recent quarter which is valued at $1,254,562. Abbott Laboratories makes up approx 0.54% of Argent Trust Co’s portfolio.Everence Capital Management Inc boosted its stake in ABT in the latest quarter, The investment management firm added 18,360 additional shares and now holds a total of 23,900 shares of Abbott Laboratories which is valued at $1,074,305. Abbott Laboratories makes up approx 0.32% of Everence Capital Management Inc’s portfolio.Stralem Co Inc reduced its stake in ABT by selling 25,300 shares or 6.04% in the most recent quarter. The Hedge Fund company now holds 393,665 shares of ABT which is valued at $16,789,812. Abbott Laboratories makes up approx 1.90% of Stralem Co Inc’s portfolio.

Abbott Laboratories closed down -0.12 points or -0.27% at $44.24 with 94,39,877 shares getting traded on Friday. Post opening the session at $44.17, the shares hit an intraday low of $43.645 and an intraday high of $44.31 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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