Nippon Life Insurance Co Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Nippon Life Insurance Co reduced its stake in Abbott Laboratories by 0.04% during the most recent quarter end. The investment management company now holds a total of 329,288 shares of Abbott Laboratories which is valued at $12,503,065 after selling 131 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on May 2, 2016.Abbott Laboratories makes up approximately 0.30% of Nippon Life Insurance Co’s portfolio.

Abbott Laboratories closed down -0.53 points or -1.38% at $37.97 with 1,13,99,947 shares getting traded on Friday. Post opening the session at $38.22, the shares hit an intraday low of $37.71 and an intraday high of $38.4 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Mcrae Capital Management Inc boosted its stake in ABT in the latest quarter, The investment management firm added 2,207 additional shares and now holds a total of 14,249 shares of Abbott Laboratories which is valued at $541,035. Abbott Laboratories makes up approx 0.24% of Mcrae Capital Management Inc’s portfolio.Texas Permanent School Fund reduced its stake in ABT by selling 17,430 shares or 3.31% in the most recent quarter. The Hedge Fund company now holds 508,463 shares of ABT which is valued at $19,779,211. Abbott Laboratories makes up approx 0.25% of Texas Permanent School Fund’s portfolio.Atria Investments reduced its stake in ABT by selling 1,174 shares or 2.74% in the most recent quarter. The Hedge Fund company now holds 41,681 shares of ABT which is valued at $1,837,298. Abbott Laboratories makes up approx 0.21% of Atria Investments’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 .

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.