Fil Ltd buys $595,497,621 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Fil Ltd scooped up 7,654,694 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 13,221,528 shares of Abbott Laboratories which is valued at $595,497,621.Abbott Laboratories makes up approximately 1.81% of Fil Ltd’s portfolio.

Other Hedge Funds, Including , Fmr reduced its stake in ABT by selling 119,252 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 16,613,805 shares of ABT which is valued at $748,285,777. Abbott Laboratories makes up approx 0.10% of Fmr’s portfolio.Fukoku Mutual Life Insurance Co reduced its stake in ABT by selling 900 shares or 8.26% in the most recent quarter. The Hedge Fund company now holds 10,000 shares of ABT which is valued at $450,200. Abbott Laboratories makes up approx 0.09% of Fukoku Mutual Life Insurance Co’s portfolio.Whittier Trust Co reduced its stake in ABT by selling 3,074 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 403,641 shares of ABT which is valued at $18,062,935. Abbott Laboratories makes up approx 0.77% of Whittier Trust Co’s portfolio. Cambiar Investors sold out all of its stake in ABT during the most recent quarter. The investment firm sold 1,402,301 shares of ABT which is valued $61,238,485. K.j. Harrison Partners Inc sold out all of its stake in ABT during the most recent quarter. The investment firm sold 5,000 shares of ABT which is valued $218,350.

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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