Rench Wealth Management Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Rench Wealth Management reduced its stake in Abbott Laboratories by 0.57% during the most recent quarter end. The investment management company now holds a total of 66,798 shares of Abbott Laboratories which is valued at $3,008,582 after selling 386 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Abbott Laboratories makes up approximately 2.37% of Rench Wealth Management’s portfolio.

Other Hedge Funds, Including , Freestone Capital Holdings reduced its stake in ABT by selling 35 shares or 0.51% in the most recent quarter. The Hedge Fund company now holds 6,784 shares of ABT which is valued at $305,551. Abbott Laboratories makes up approx 0.03% of Freestone Capital Holdings’s portfolio.Cadinha Co reduced its stake in ABT by selling 176 shares or 0.82% in the most recent quarter. The Hedge Fund company now holds 21,410 shares of ABT which is valued at $964,521. Abbott Laboratories makes up approx 0.20% of Cadinha Co’s portfolio.Rockland Trust Co boosted its stake in ABT in the latest quarter, The investment management firm added 9,562 additional shares and now holds a total of 69,882 shares of Abbott Laboratories which is valued at $3,016,806. Abbott Laboratories makes up approx 0.50% of Rockland Trust Co’s portfolio.Peavine Capital Management reduced its stake in ABT by selling 200 shares or 0.92% in the most recent quarter. The Hedge Fund company now holds 21,600 shares of ABT which is valued at $906,552. Abbott Laboratories makes up approx 0.41% of Peavine Capital Management’s portfolio.

Abbott Laboratories closed down -0.12 points or -0.27% at $44.24 with 94,39,877 shares getting traded on Friday. Post opening the session at $44.17, the shares hit an intraday low of $43.645 and an intraday high of $44.31 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.

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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