Jolley Asset Management Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Jolley Asset Management reduced its stake in Abbott Laboratories by 34.4% during the most recent quarter end. The investment management company now holds a total of 30,089 shares of Abbott Laboratories which is valued at $1,227,330 after selling 15,775 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Abbott Laboratories makes up approximately 1.01% of Jolley Asset Management’s portfolio.

Other Hedge Funds, Including , Gemmer Asset Management boosted its stake in ABT in the latest quarter, The investment management firm added 103 additional shares and now holds a total of 3,774 shares of Abbott Laboratories which is valued at $153,941. Abbott Laboratories makes up approx 0.08% of Gemmer Asset Management’s portfolio.Vigilant Capital Management boosted its stake in ABT in the latest quarter, The investment management firm added 590 additional shares and now holds a total of 193,415 shares of Abbott Laboratories which is valued at $7,889,398. Abbott Laboratories makes up approx 1.42% of Vigilant Capital Management’s portfolio.Needelman Asset Management Inc reduced its stake in ABT by selling 45 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 18,547 shares of ABT which is valued at $760,056. Abbott Laboratories makes up approx 2.34% of Needelman Asset Management Inc’s portfolio.Founders Capital Management reduced its stake in ABT by selling 438 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 42,252 shares of ABT which is valued at $1,837,962. Abbott Laboratories makes up approx 1.03% of Founders Capital Management’s portfolio.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 -0.19 points or -0.46% at $40.79 with 88,18,965 shares getting traded on Friday. Post opening the session at $41.17, the shares hit an intraday low of $40.77 and an intraday high of $41.53 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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