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Inspirion Wealth Advisors Raises Positions As It Buys More Shares In Abbott Laboratories

By January 19, 2016 at 11:27 am
Inspirion Wealth Advisors Raises Positions As It Buys More Shares In Abbott Laboratories (Photo : Tim Boyle | Getty Images News)

ILLINOIS - Inspirion Wealth Advisors, a financial planner based in Libertyville, Illinois, has raised its position as it acquired more shares in the pharmaceutical company, Abbott Laboratories. This is according to the recent filing with Securities and Exchange Commission (SEC).

About $10,236,000 of shares was bought by Inspirion Wealth Advisors, increasing it by 26.6 percent during the fourth quarter of 2015. After buying a total of 47,851 shares, the company already owns 227,923 shares of the pharmaceutical company's stock. Apparently, Abbott Laboratories makes up the financial planner's portfolio about 7.5 percent, ranking the stock as the fourte largest position, according to the report of EMQ TV.

Aside from Inspirion Wealth Advisors, there are other institutions that have also escalated their positions after buying shares of Abbott Laboratories.

Jennison Associates, and investment firm, now owns 21,394,291 shares worth $860,478,000, increasing its position to 1.5 percent. Palo Capital, another investment firm, bought $200,000 worth of shares during the third quarter.

Buying 1,718,862 more shares for $139,600,000, Eagle Asset Management currently owns 3,470,940 shares of Abbott Laboratories' stocks. Raising its position to 0.7 percent, Chelsea Counsel Company bought 1,450 shares worth $8,846,000 and already has 219,931 shares. And Beacon Financial Group, which increased its position in shares by 28.5 percent in the last quarter, purchased 2,352 shares for $480,000, owning 10,606 shares of the pharmaceutical company's stock.

In relation to this news, Miles D. White, chief executive officer of Abbott, sold 438,000 shares of the company's stock in a business deal on December 16. Each stock had an average price of $46, closing the transaction at $20,148,000. After completing the sale, White currently owns 1,394,153 shares in Abbott Laboratories worth $64,131,038. The transaction is indicated at Securities and Exchange Commission archives. Click here to see.

Illinois-based Abbott Laboratories is not only a hedge fund, but it ventures in manufacturing, distributing and selling of the its healthcare products. It also engages in the discovery, research and development of what they provide in the market and for the consumers. Moreover, it operates four business segments and these are: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Vascular Products.

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