Cranbrook Wealth Management Exits Position in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Cranbrook Wealth Management has sold out all of its stake in Abbott Laboratories during the most recent quarter, according to the disclosure filed by the company on Aug 2, 2016 with the SEC. The investment management company has sold out 580 shares of Abbott Laboratories which is valued at $26,071.

Other Hedge Funds, Including , Investors Capital Advisory Services boosted its stake in ABT in the latest quarter, The investment management firm added 312 additional shares and now holds a total of 10,106 shares of Abbott Laboratories which is valued at $454,265. Abbott Laboratories makes up approx 0.09% of Investors Capital Advisory Services’s portfolio.Essex Financial Services boosted its stake in ABT in the latest quarter, The investment management firm added 467 additional shares and now holds a total of 30,750 shares of Abbott Laboratories which is valued at $1,376,063. Abbott Laboratories makes up approx 0.32% of Essex Financial Services’s portfolio.Sigma Planning Corp reduced its stake in ABT by selling 34,821 shares or 54.62% in the most recent quarter. The Hedge Fund company now holds 28,926 shares of ABT which is valued at $1,248,735. Abbott Laboratories makes up approx 0.16% of Sigma Planning Corp’s portfolio.Palladium Partners reduced its stake in ABT by selling 850 shares or 1.54% in the most recent quarter. The Hedge Fund company now holds 54,412 shares of ABT which is valued at $2,320,672. Abbott Laboratories makes up approx 0.20% of Palladium Partners’s portfolio.

Abbott Laboratories closed down -0.24 points or -0.53% at $45.02 with 76,57,947 shares getting traded on Monday. Post opening the session at $45.06, the shares hit an intraday low of $44.88 and an intraday high of $45.41 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *