Spinnaker Trust Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Spinnaker Trust reduced its stake in Abbott Laboratories by 1.15% during the most recent quarter end. The investment management company now holds a total of 24,208 shares of Abbott Laboratories which is valued at $1,088,150 after selling 281 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Abbott Laboratories makes up approximately 0.15% of Spinnaker Trust’s portfolio.

Other Hedge Funds, Including , Delta Capital Management reduced its stake in ABT by selling 4,726 shares or 13.33% in the most recent quarter. The Hedge Fund company now holds 30,725 shares of ABT which is valued at $1,381,089. Abbott Laboratories makes up approx 1.04% of Delta Capital Management’s portfolio. Trillium Asset Management sold out all of its stake in ABT during the most recent quarter. The investment firm sold 5,480 shares of ABT which is valued $245,230.Bollard Group boosted its stake in ABT in the latest quarter, The investment management firm added 107,012 additional shares and now holds a total of 108,834 shares of Abbott Laboratories which is valued at $4,698,364. Abbott Laboratories makes up approx 0.32% of Bollard Group’s portfolio.First Hawaiian Bank reduced its stake in ABT by selling 699 shares or 5.65% in the most recent quarter. The Hedge Fund company now holds 11,677 shares of ABT which is valued at $490,084. Abbott Laboratories makes up approx 0.08% of First Hawaiian Bank’s portfolio.Dalton Greiner Hartman Maher Co reduced its stake in ABT by selling 57,090 shares or 16.24% in the most recent quarter. The Hedge Fund company now holds 294,383 shares of ABT which is valued at $12,355,255. Abbott Laboratories makes up approx 0.74% of Dalton Greiner Hartman Maher Co’s portfolio.

Abbott Laboratories closed down -0.14 points or -0.31% at $44.81 with 65,83,457 shares getting traded on Thursday. Post opening the session at $45.06, the shares hit an intraday low of $44.78 and an intraday high of $45.09 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Abbott Laboratories reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.53. The company had revenue of $5333.00 million for the quarter, compared to analysts expectations of $5244.94 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 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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