Founders Financial Securities Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Founders Financial Securities reduced its stake in Abbott Laboratories by 79.76% during the most recent quarter end. The investment management company now holds a total of 17,298 shares of Abbott Laboratories which is valued at $743,295 after selling 68,161 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Abbott Laboratories makes up approximately 0.32% of Founders Financial Securities’s portfolio.

Other Hedge Funds, Including , Stokes Hubbell Capital Management boosted its stake in ABT in the latest quarter, The investment management firm added 679 additional shares and now holds a total of 46,058 shares of Abbott Laboratories which is valued at $1,979,112. Abbott Laboratories makes up approx 0.82% of Stokes Hubbell Capital Management’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.Eqis Capital Management reduced its stake in ABT by selling 7,056 shares or 19.76% in the most recent quarter. The Hedge Fund company now holds 28,644 shares of ABT which is valued at $1,224,245. Abbott Laboratories makes up approx 0.08% of Eqis Capital Management’s portfolio.Lau Associates reduced its stake in ABT by selling 400 shares or 6.38% in the most recent quarter. The Hedge Fund company now holds 5,873 shares of ABT which is valued at $251,012. Abbott Laboratories makes up approx 0.26% of Lau Associates’s portfolio.Lvm Capital Management Ltdmi boosted its stake in ABT in the latest quarter, The investment management firm added 30,674 additional shares and now holds a total of 64,149 shares of Abbott Laboratories which is valued at $2,741,728. Abbott Laboratories makes up approx 0.87% of Lvm Capital Management Ltdmi’s portfolio.

Abbott Laboratories (ABT) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $43 and reached the intraday high at $43.19. The bulls started the profit booking and pushed the shares to intraday low of $42.57. The trading session was marked by a volume range of 72,49,757 shares exchanging hands. The 52-week high of the shares is $46.38 and the 52-week low is $36. The market cap of the company stands at $63,166 M and there are 1,46,99,95,400 shares in public circulation.

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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