Mechanics Bank Trust Department buys $5,273,417 stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Mechanics Bank Trust Department scooped up 6,764 additional shares in Abbott Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 123,644 shares of Abbott Laboratories which is valued at $5,273,417.Abbott Laboratories makes up approximately 1.89% of Mechanics Bank Trust Department’s portfolio.

Other Hedge Funds, Including , 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.Stewart Patten Co boosted its stake in ABT in the latest quarter, The investment management firm added 40,071 additional shares and now holds a total of 276,584 shares of Abbott Laboratories which is valued at $11,796,308. Abbott Laboratories makes up approx 2.25% of Stewart Patten Co’s portfolio.Cape Cod Five Cents Savings Bank boosted its stake in ABT in the latest quarter, The investment management firm added 4,007 additional shares and now holds a total of 105,514 shares of Abbott Laboratories which is valued at $4,442,139. Abbott Laboratories makes up approx 0.79% of Cape Cod Five Cents Savings Bank’s portfolio.Founders Financial Securities reduced its stake in ABT by selling 293 shares or 0.34% in the most recent quarter. The Hedge Fund company now holds 85,459 shares of ABT which is valued at $3,579,878. Abbott Laboratories makes up approx 1.63% of Founders Financial Securities’s portfolio.

Abbott Laboratories opened for trading at $42.8 and hit $42.92 on the upside on Wednesday, eventually ending the session at $42.65, with a gain of 2.03% or 0.85 points. The heightened volatility saw the trading volume jump to 1,36,86,493 shares. Company has a market cap of $62,659 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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