Broderick Brian C Boosts Stake in Abbott Laboratories (ABT)
Broderick Brian C boosted its stake in Abbott Laboratories (NYSE:ABT) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,510 shares of the healthcare product maker’s stock after buying an additional 2,920 shares during the period. Abbott Laboratories makes up approximately 2.2% of Broderick Brian C’s holdings, making the stock its 18th largest position. Broderick Brian C’s holdings in Abbott Laboratories were worth $5,957,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cypress Capital Management LLC WY raised its position 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 period. Feltz Wealth PLAN Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $112,000. V Wealth Management LLC acquired a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $127,000. 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 in the last quarter. 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 in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (NYSE ABT) traded down 0.06% during trading on Friday, reaching $49.35. The company had a trading volume of 4,852,442 shares. The company’s 50 day moving average is $49.25 and its 200-day moving average is $46.20. The stock has a market capitalization of $85.74 billion, a price-to-earnings ratio of 69.12 and a beta of 1.07. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $51.13.
Abbott Laboratories (NYSE:ABT) last released 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 firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm’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. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.15%. 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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Several analysts have commented on the company. TheStreet downgraded Abbott Laboratories from a “b” rating to a “c+” rating in a research note on Thursday, May 18th. Royal Bank Of Canada reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Monday, May 15th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Wednesday, June 14th. BidaskClub upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 29th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $52.14.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at $10,188,448. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the sale, the insider now directly owns 105,479 shares in the company, valued at approximately $5,357,278.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 415,252 shares of company stock worth $19,878,958. 0.76% of the stock is owned by insiders.
About Abbott Laboratories
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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