Wendell David Associates Inc. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 192,008 shares of the healthcare product maker’s stock after selling 2,540 shares during the quarter. Abbott Laboratories makes up approximately 2.4% of Wendell David Associates Inc.’s portfolio, making the stock its 12th largest position. Wendell David Associates Inc.’s holdings in Abbott Laboratories were worth $16,148,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp increased its holdings in Abbott Laboratories by 2.7% in the 4th quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock valued at $1,924,260,000 after buying an additional 708,691 shares during the period. Krueger & Catalano Capital Partners LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $244,000. Barometer Capital Management Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $8,251,000. FMR LLC lifted its position in Abbott Laboratories by 0.3% during the 1st quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock worth $1,904,774,000 after buying an additional 65,260 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. lifted its position in Abbott Laboratories by 2.5% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock valued at $4,956,000 after purchasing an additional 1,514 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.
In other Abbott Laboratories news, insider Jared Watkin sold 309,429 shares of Abbott Laboratories stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $78.51, for a total value of $24,293,270.79. Following the transaction, the insider now owns 189,227 shares in the company, valued at $14,856,211.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of Abbott Laboratories stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $84.00, for a total value of $5,964,000.00. Following the completion of the transaction, the executive vice president now owns 167,148 shares in the company, valued at approximately $14,040,432. The disclosure for this sale can be found here. Insiders sold 1,060,260 shares of company stock worth $83,722,711 in the last 90 days. 0.70% of the stock is owned by company insiders.
ABT stock traded down $0.55 during trading hours on Friday, hitting $87.45. 961,149 shares of the stock were exchanged, compared to its average volume of 5,137,889. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market cap of $155.25 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.49 and a beta of 1.10. The firm has a 50-day moving average price of $84.29. Abbott Laboratories has a 12 month low of $63.07 and a 12 month high of $88.76.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.39% and a net margin of 9.36%. The company had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same quarter last year, the business earned $0.73 earnings per share. Abbott Laboratories’s revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is currently 44.44%.
A number of research analysts have issued reports on ABT shares. Raymond James cut their target price on shares of SM Energy from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Medidata Solutions in a research note on Thursday, June 13th. Bank of America set a $10.00 price target on HEXO and gave the company a “buy” rating in a research note on Thursday, June 13th. Jefferies Financial Group cut Alcoa from a “buy” rating to a “hold” rating and lowered their price target for the company from $29.00 to $23.00 in a research note on Thursday, July 18th. Finally, Zacks Investment Research cut Home Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $85.82.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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