Peavine Capital Management Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Peavine Capital Management reduced its stake in Abbott Laboratories by 0.92% during the most recent quarter end. The investment management company now holds a total of 21,600 shares of Abbott Laboratories which is valued at $906,552 after selling 200 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Abbott Laboratories makes up approximately 0.41% of Peavine Capital Management’s portfolio.

Other Hedge Funds, Including , Abner Herrman Brock boosted its stake in ABT in the latest quarter, The investment management firm added 17,898 additional shares and now holds a total of 171,085 shares of Abbott Laboratories which is valued at $7,180,437. Abbott Laboratories makes up approx 1.66% of Abner Herrman Brock’s portfolio.Washington Trust Bank boosted its stake in ABT in the latest quarter, The investment management firm added 386 additional shares and now holds a total of 7,872 shares of Abbott Laboratories which is valued at $329,758. Abbott Laboratories makes up approx 0.08% of Washington Trust Bank’s portfolio.Iowa State Bank boosted its stake in ABT in the latest quarter, The investment management firm added 1,120 additional shares and now holds a total of 31,933 shares of Abbott Laboratories which is valued at $1,337,673. Abbott Laboratories makes up approx 0.68% of Iowa State Bank’s portfolio.

Abbott Laboratories closed down -0.18 points or -0.43% at $42.1 with 76,93,538 shares getting traded on Friday. Post opening the session at $42.4, the shares hit an intraday low of $42.025 and an intraday high of $42.53 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. 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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