Lau Associates Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Lau Associates reduced its stake in Abbott Laboratories by 6.38% during the most recent quarter end. The investment management company now holds a total of 5,873 shares of Abbott Laboratories which is valued at $251,012 after selling 400 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Abbott Laboratories makes up approximately 0.26% of Lau Associates’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group boosted its stake in ABT in the latest quarter, The investment management firm added 2,203 additional shares and now holds a total of 16,831 shares of Abbott Laboratories which is valued at $719,357. Abbott Laboratories makes up approx 0.15% of Beacon Financial Group’s portfolio.

Abbott Laboratories closed down -0.45 points or -1.06% at $42.1 with 58,70,725 shares getting traded on Tuesday. Post opening the session at $42.48, the shares hit an intraday low of $41.86 and an intraday high of $42.79 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.

Investors should note that on Sep 15, 2016, Abbott Laboratories announced a cash dividend of $0.2600. The company’s management has announced Oct 12, 2016 as the ex-dividend date and fixed the record date on Oct 14, 2016. The payable date has been fixed on Nov 15, 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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