Northeast Investment Management Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Northeast Investment Management reduced its stake in Abbott Laboratories by 23.39% during the most recent quarter end. The investment management company now holds a total of 164,691 shares of Abbott Laboratories which is valued at $7,402,860 after selling 50,292 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Abbott Laboratories makes up approximately 0.73% of Northeast Investment Management’s portfolio.

Other Hedge Funds, Including , Smithfield Trust Co reduced its stake in ABT by selling 1,087 shares or 10.54% in the most recent quarter. The Hedge Fund company now holds 9,225 shares of ABT which is valued at $412,819. Abbott Laboratories makes up approx 0.08% of Smithfield Trust Co’s portfolio.D. Scott Neal boosted its stake in ABT in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 599 shares of Abbott Laboratories which is valued at $25,547. Abbott Laboratories makes up approx 0.02% of D. Scott Neal’s portfolio.Leavell Investment Management reduced its stake in ABT by selling 305 shares or 0.7% in the most recent quarter. The Hedge Fund company now holds 43,040 shares of ABT which is valued at $1,835,656. Abbott Laboratories makes up approx 0.26% of Leavell Investment Management’s portfolio.

Abbott Laboratories closed down -0.24 points or -0.53% at $45.02 with 76,57,947 shares getting traded on Monday. Post opening the session at $45.06, the shares hit an intraday low of $44.88 and an intraday high of $45.41 and the price fluctuated in this range throughout the day.Shares ended Monday 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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