Daniel Devine & Co Sells 400 Shares of Abbott Laboratories (ABT)
Daniel Devine & Co reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.0% during the second quarter, Holdings Channel reports. The firm owned 5,335 shares of the healthcare product maker’s stock after selling 400 shares during the period. Daniel Devine & Co’s holdings in Abbott Laboratories were worth $259,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Cypress Capital Management LLC WY increased its stake in shares of 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 valued at $112,000 after buying an additional 696 shares during the period. Feltz Wealth PLAN Inc. purchased a new stake in shares of Abbott Laboratories during the first quarter valued at about $112,000. First Command Financial Services Inc. increased its stake in shares of 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 valued at $124,000 after buying an additional 257 shares during the period. V Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at about $127,000. Finally, Atwood & Palmer Inc. increased its stake in shares of Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after buying an additional 2,000 shares during the period. 70.86% of the stock is owned by institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.22% during midday trading on Thursday, hitting $49.70. 2,714,340 shares of the company were exchanged. Abbott Laboratories has a one year low of $37.38 and a one year high of $51.13. The firm has a market cap of $86.35 billion, a P/E ratio of 69.61 and a beta of 1.07. The company’s 50 day moving average price is $49.12 and its 200 day moving average price is $45.87.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Equities analysts expect that Abbott Laboratories will post $2.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
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ABT has been the subject of several recent research reports. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Friday, May 26th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Monday, May 15th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $51.00 price target (up previously from $50.00) on shares of Abbott Laboratories in a research report on Friday, May 12th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $52.14.
In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the transaction, the insider now owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jared Watkin sold 552 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the transaction, the insider now directly owns 47,090 shares in the company, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. In the last three months, insiders sold 218,702 shares of company stock worth $10,149,733. 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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