Wimmer Associates 1 buys $1,492,490 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Wimmer Associates 1 scooped up 1,076 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 33,137 shares of Abbott Laboratories which is valued at $1,492,490.Abbott Laboratories makes up approximately 1.29% of Wimmer Associates 1’s portfolio.

Other Hedge Funds, Including , Boston Financial Mangement boosted its stake in ABT in the latest quarter, The investment management firm added 133,211 additional shares and now holds a total of 321,742 shares of Abbott Laboratories which is valued at $14,491,260. Abbott Laboratories makes up approx 1.14% of Boston Financial Mangement’s portfolio.Wetherby Asset Management Inc reduced its stake in ABT by selling 254 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 24,288 shares of ABT which is valued at $1,093,932. Abbott Laboratories makes up approx 0.23% of Wetherby Asset Management Inc’s portfolio.Mizuho Asset Managementltd. boosted its stake in ABT in the latest quarter, The investment management firm added 9,939 additional shares and now holds a total of 20,342 shares of Abbott Laboratories which is valued at $916,204. Abbott Laboratories makes up approx 0.16% of Mizuho Asset Managementltd.’s portfolio. Spot Trading L.l.c sold out all of its stake in ABT during the most recent quarter. The investment firm sold 10,013 shares of ABT which is valued $450,084.Eagle Ridge Investment Management reduced its stake in ABT by selling 8,477 shares or 7.17% in the most recent quarter. The Hedge Fund company now holds 109,761 shares of ABT which is valued at $4,738,382. Abbott Laboratories makes up approx 1.05% of Eagle Ridge Investment Management’s portfolio.

Abbott Laboratories closed down -0.27 points or -0.61% at $43.9 with 74,01,381 shares getting traded on Tuesday. Post opening the session at $44.37, the shares hit an intraday low of $43.9 and an intraday high of $44.42 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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