Webster Bank N. A. Has $439,000 Position in Abbott Laboratories (NYSE:ABT)
Webster Bank N. A. increased its stake in Abbott Laboratories (NYSE:ABT) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,875 shares of the healthcare product maker’s stock after buying an additional 266 shares during the period. Webster Bank N. A.’s holdings in Abbott Laboratories were worth $439,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $4,680,000. Cypress Capital Management LLC WY boosted its stake in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after buying an additional 696 shares during the last quarter. Feltz Wealth PLAN Inc. acquired a new stake in Abbott Laboratories during the first quarter worth approximately $112,000. First Command Financial Services Inc. boosted its stake in Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock worth $124,000 after buying an additional 257 shares during the last quarter. Finally, Advantage Investment Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $120,000. 71.02% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE:ABT) traded up 0.20% on Friday, hitting $49.26. The stock had a trading volume of 3,230,492 shares. The company has a 50 day moving average price of $48.97 and a 200-day moving average price of $45.28. The company has a market cap of $85.48 billion, a price-to-earnings ratio of 68.99 and a beta of 1.07. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 15.53% and a net margin of 4.96%. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities research analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.16%. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
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A number of equities research analysts recently issued reports on ABT shares. Royal Bank Of Canada restated a “buy” rating on shares of Abbott Laboratories in a research note on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a report on Friday, June 16th. BTIG Research started coverage on Abbott Laboratories in a report on Wednesday, June 21st. They set a “buy” rating and a $56.00 target price for the company. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Wednesday, June 14th. Finally, BidaskClub raised Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $51.93.
In other news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total value of $9,041,300.00. Following the sale, the insider now directly owns 221,488 shares in the company, valued at $10,188,448. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now owns 28,806 shares in the company, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,702 shares of company stock valued at $10,149,733. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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