MCF Advisors LLC Has $160,000 Position in Abbott Laboratories (ABT)
MCF Advisors LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 37.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,282 shares of the healthcare product maker’s stock after selling 1,962 shares during the quarter. MCF Advisors LLC’s holdings in Abbott Laboratories were worth $160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Puzo Michael J boosted its holdings in Abbott Laboratories by 5.9% during the 2nd quarter. Puzo Michael J now owns 79,451 shares of the healthcare product maker’s stock valued at $3,863,000 after acquiring an additional 4,455 shares during the period. Somerville Kurt F boosted its holdings in Abbott Laboratories by 3.7% during the 2nd quarter. Somerville Kurt F now owns 243,650 shares of the healthcare product maker’s stock valued at $11,844,000 after acquiring an additional 8,765 shares during the period. Boston Advisors LLC boosted its holdings in Abbott Laboratories by 3.1% during the 2nd quarter. Boston Advisors LLC now owns 78,404 shares of the healthcare product maker’s stock valued at $3,811,000 after acquiring an additional 2,389 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in Abbott Laboratories by 4.1% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 27,369 shares of the healthcare product maker’s stock valued at $1,330,000 after acquiring an additional 1,089 shares during the period. Finally, Lincoln Capital Corp boosted its holdings in Abbott Laboratories by 0.4% during the 2nd quarter. Lincoln Capital Corp now owns 80,136 shares of the healthcare product maker’s stock valued at $3,895,000 after acquiring an additional 291 shares during the period. Institutional investors own 71.66% of the company’s stock.
In other news, insider Hubert L. Allen sold 4,600 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total transaction 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 at this link. Also, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the transaction, the insider now directly owns 221,488 shares in the company, valued at approximately $10,963,656. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,150 shares of company stock worth $10,811,179. Insiders own 0.76% of the company’s stock.
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Abbott Laboratories (NYSE ABT) traded up 0.14% on Friday, hitting $51.76. The stock had a trading volume of 6,699,659 shares. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $52.60. The stock’s 50-day moving average is $50.01 and its 200 day moving average is $46.93. The firm has a market capitalization of $89.93 billion, a price-to-earnings ratio of 72.49 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities research analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio is 149.30%.
ABT has been the subject of several analyst reports. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Guggenheim initiated coverage on Abbott Laboratories in a report on Thursday, June 29th. They set a “buy” rating and a $58.00 target price for the company. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, June 21st. BTIG Research initiated 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. Finally, Stifel Nicolaus increased their target price on Abbott Laboratories from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $52.50.
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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