Trust Co. of Oklahoma raised its stake in Abbott Laboratories (NYSE:ABT) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,974 shares of the healthcare product maker’s stock after acquiring an additional 475 shares during the quarter. Trust Co. of Oklahoma’s holdings in Abbott Laboratories were worth $1,091,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Financial Inc. acquired a new position in shares of Abbott Laboratories in the second quarter worth $30,000. Front Row Advisors LLC raised its holdings in shares of Abbott Laboratories by 790.9% in the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after acquiring an additional 348 shares during the last quarter. Weaver Consulting Group acquired a new position in shares of Abbott Laboratories in the first quarter worth $33,000. Beacon Capital Management Inc. acquired a new position in shares of Abbott Laboratories in the first quarter worth $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Abbott Laboratories in the second quarter worth $42,000. 73.46% of the stock is owned by institutional investors.
In other Abbott Laboratories news, insider Randel William Woodgrift sold 65,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the sale, the insider now owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total value of $219,125.00. Following the sale, the director now directly owns 26,266 shares of the company’s stock, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 818,331 shares of company stock valued at $65,369,215. 0.70% of the stock is owned by company insiders.
Shares of NYSE:ABT traded up $0.92 during midday trading on Tuesday, reaching $84.09. The company’s stock had a trading volume of 1,499,514 shares, compared to its average volume of 5,037,156. The firm has a market cap of $148.39 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. Abbott Laboratories has a 1 year low of $63.07 and a 1 year high of $88.76. The company’s 50 day moving average is $85.51.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
A number of research firms have recently weighed in on ABT. Royal Bank of Canada boosted their price target on Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Bank of America reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 13th. Cowen lifted their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Friday, June 7th. One equities 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 currently has a consensus rating of “Buy” and an average target price of $85.82.
About Abbott Laboratories
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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