Capstone Asset Management Co Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Capstone Asset Management Co reduced its stake in Abbott Laboratories by 5.58% during the most recent quarter end. The investment management company now holds a total of 418,287 shares of Abbott Laboratories which is valued at $17,216,693 after selling 24,736 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Abbott Laboratories makes up approximately 0.50% of Capstone Asset Management Co’s portfolio.

Other Hedge Funds, Including , Hollencrest Securities reduced its stake in ABT by selling 5,470 shares or 26.2% in the most recent quarter. The Hedge Fund company now holds 15,407 shares of ABT which is valued at $634,152. Abbott Laboratories makes up approx 0.09% of Hollencrest Securities’s portfolio.Carroll Financial Associates boosted its stake in ABT in the latest quarter, The investment management firm added 520 additional shares and now holds a total of 5,864 shares of Abbott Laboratories which is valued at $255,084. Abbott Laboratories makes up approx 0.04% of Carroll Financial Associates’s portfolio.Chevy Chase Trust Holdings reduced its stake in ABT by selling 31,106 shares or 2.24% in the most recent quarter. The Hedge Fund company now holds 1,355,680 shares of ABT which is valued at $57,941,763. Abbott Laboratories makes up approx 0.32% of Chevy Chase Trust Holdings’s portfolio.Washington Trust Bank boosted its stake in ABT in the latest quarter, The investment management firm added 889 additional shares and now holds a total of 8,761 shares of Abbott Laboratories which is valued at $374,445. Abbott Laboratories makes up approx 0.09% of Washington Trust Bank’s portfolio.

Abbott Laboratories closed down -2.34 points or -5.38% at $41.16 with 2,38,96,101 shares getting traded on Tuesday. Post opening the session at $43.2, the shares hit an intraday low of $41.02 and an intraday high of $43.27 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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.