Appleton Partners Incma Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Appleton Partners Incma reduced its stake in Abbott Laboratories by 23.58% during the most recent quarter end. The investment management company now holds a total of 35,657 shares of Abbott Laboratories which is valued at $1,571,761 after selling 11,000 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Abbott Laboratories makes up approximately 0.31% of Appleton Partners Incma’s portfolio.

Abbott Laboratories closed down -0.05 points or -0.11% at $43.83 with 50,35,092 shares getting traded on Wednesday. Post opening the session at $43.93, the shares hit an intraday low of $43.69 and an intraday high of $44 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in ABT during the most recent quarter. The investment firm sold 1,389,606 shares of ABT which is valued $61,253,832.Stokes Hubbell Capital Management boosted its stake in ABT in the latest quarter, The investment management firm added 1,004 additional shares and now holds a total of 43,503 shares of Abbott Laboratories which is valued at $1,917,612. Abbott Laboratories makes up approx 0.87% of Stokes Hubbell Capital Management’s portfolio.Mountain Pacific Investment Advisers Incid reduced its stake in ABT by selling 3,282 shares or 8.75% in the most recent quarter. The Hedge Fund company now holds 34,235 shares of ABT which is valued at $1,486,141. Abbott Laboratories makes up approx 0.17% of Mountain Pacific Investment Advisers Incid’s portfolio.Salem Capital Management Inc reduced its stake in ABT by selling 3,200 shares or 8.65% in the most recent quarter. The Hedge Fund company now holds 33,773 shares of ABT which is valued at $1,466,086. Abbott Laboratories makes up approx 0.81% of Salem Capital Management Inc’s portfolio.

On the company’s financial health, Abbott Laboratories reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.39. The company had revenue of $4885.00 million for the quarter, compared to analysts expectations of $4777.68 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Abbott Laboratories. Company shares were Reiterated by RBC Capital Mkts on Apr 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Shares were Reiterated by RBC Capital Mkts on Jan 29, 2016 to “Outperform” and Lowered the Price Target to $ 45 from a previous price target of $51 .

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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