Jensen Investment Management Inc Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Jensen Investment Management Inc reduced its stake in Abbott Laboratories by 0.59% during the most recent quarter end. The investment management company now holds a total of 144,337 shares of Abbott Laboratories which is valued at $6,303,197 after selling 850 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Abbott Laboratories makes up approximately 0.10% of Jensen Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Home Federal Bank Of Tennessee boosted its stake in ABT in the latest quarter, The investment management firm added 130 additional shares and now holds a total of 25,819 shares of Abbott Laboratories which is valued at $1,127,516. Abbott Laboratories makes up approx 0.66% of Home Federal Bank Of Tennessee’s portfolio.S&co Inc reduced its stake in ABT by selling 55 shares or 0.02% in the most recent quarter. The Hedge Fund company now holds 284,584 shares of ABT which is valued at $12,285,491. Abbott Laboratories makes up approx 1.84% of S&co Inc’s portfolio.Tiaa Cref Trust Co Fsbmo reduced its stake in ABT by selling 6,285 shares or 2.21% in the most recent quarter. The Hedge Fund company now holds 278,255 shares of ABT which is valued at $12,012,268. Abbott Laboratories makes up approx 0.11% of Tiaa Cref Trust Co Fsbmo’s portfolio.Barrett Asset Management boosted its stake in ABT in the latest quarter, The investment management firm added 4,100 additional shares and now holds a total of 117,095 shares of Abbott Laboratories which is valued at $4,994,102. Abbott Laboratories makes up approx 0.42% of Barrett Asset Management’s portfolio.Lodestar Investment Counselil boosted its stake in ABT in the latest quarter, The investment management firm added 99,027 additional shares and now holds a total of 232,671 shares of Abbott Laboratories which is valued at $9,793,122. Abbott Laboratories makes up approx 1.35% of Lodestar Investment Counselil’s portfolio.

Abbott Laboratories opened for trading at $44.38 and hit $45.12 on the upside on Friday, eventually ending the session at $44.75, with a gain of 0.67% or 0.3 points. The heightened volatility saw the trading volume jump to 1,34,23,155 shares. Company has a market cap of $65,745 M.

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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