Brookmont Capital Management Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Brookmont Capital Management reduced its stake in Abbott Laboratories by 5.51% during the most recent quarter end. The investment management company now holds a total of 242,902 shares of Abbott Laboratories which is valued at $9.1 Million after selling 14,169 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on May 12, 2016.Abbott Laboratories makes up approximately 2.96% of Brookmont Capital Management’s portfolio.

Other Hedge Funds, Including , Rench Wealth Management reduced its stake in ABT by selling 111 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 67,184 shares of ABT which is valued at $2.5 Million. Abbott Laboratories makes up approx 2.12% of Rench Wealth Management’s portfolio.Blackrock Group Ltd reduced its stake in ABT by selling 805,780 shares or 5.88% in the most recent quarter. The Hedge Fund company now holds 12,889,810 shares of ABT which is valued at $484.7 Million. Abbott Laboratories makes up approx 0.26% of Blackrock Group Ltd’s portfolio.Investors Capital Advisory Services boosted its stake in ABT in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 9,794 shares of Abbott Laboratories which is valued at $368,254. Abbott Laboratories makes up approx 0.07% of Investors Capital Advisory Services’s portfolio.Cibc World Markets reduced its stake in ABT by selling 4,627 shares or 8.34% in the most recent quarter. The Hedge Fund company now holds 50,876 shares of ABT which is valued at $1.9 Million. Abbott Laboratories makes up approx 0.01% of Cibc World Markets’s portfolio.Whitnell boosted its stake in ABT in the latest quarter, The investment management firm added 260 additional shares and now holds a total of 51,562 shares of Abbott Laboratories which is valued at $2 Million. Abbott Laboratories makes up approx 0.73% of Whitnell’s portfolio.

Abbott Laboratories opened for trading at $37.55 and hit $37.78 on the upside on Friday, eventually ending the session at $37.6, with a gain of 0.97% or 0.36 points. The heightened volatility saw the trading volume jump to 78,07,640 shares. Company has a market cap of $55,240 M.

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 .

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.

Leave a Reply

Abbott Laboratories - Is it time to Sell?

Top Brokerage Firms are advising their investors on Abbott Laboratories. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.