Abbott Laboratories (ABT) Position Boosted by Edmp Inc.
Edmp Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,256 shares of the healthcare product maker’s stock after acquiring an additional 35 shares during the period. Edmp Inc.’s holdings in Abbott Laboratories were worth $1,082,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Waldron LP lifted its stake in Abbott Laboratories by 41.0% during the 1st quarter. Waldron LP now owns 10,042 shares of the healthcare product maker’s stock valued at $442,000 after acquiring an additional 2,922 shares during the period. GW Henssler & Associates Ltd. boosted its holdings in shares of Abbott Laboratories by 9.2% during the 1st quarter. GW Henssler & Associates Ltd. now owns 232,942 shares of the healthcare product maker’s stock valued at $10,345,000 after acquiring an additional 19,592 shares during the last quarter. Sigma Planning Corp boosted its holdings in shares of Abbott Laboratories by 8.6% during the 1st quarter. Sigma Planning Corp now owns 30,860 shares of the healthcare product maker’s stock valued at $1,370,000 after acquiring an additional 2,435 shares during the last quarter. IFC Holdings Incorporated FL boosted its holdings in shares of Abbott Laboratories by 44.7% during the 1st quarter. IFC Holdings Incorporated FL now owns 21,193 shares of the healthcare product maker’s stock valued at $945,000 after acquiring an additional 6,545 shares during the last quarter. Finally, Reik & CO. LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $215,000. Institutional investors own 71.50% of the company’s stock.
A number of analysts have recently commented on the stock. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Jefferies Group LLC restated a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Wednesday, June 14th. Guggenheim started coverage on shares of Abbott Laboratories in a report on Thursday, June 29th. They issued a “buy” rating and a $58.00 target price on the stock. Finally, BTIG Research started coverage on shares of Abbott Laboratories in a report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $54.00.
In other news, insider Stephen R. Fussell sold 196,550 shares of the business’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 sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the sale, the insider now directly owns 28,806 shares in the company, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders sold 333,310 shares of company stock valued at $16,857,255 in the last three months. 0.76% of the stock is currently owned by insiders.
Shares of Abbott Laboratories (NYSE:ABT) traded up 0.28% during mid-day trading on Tuesday, reaching $53.83. The company’s stock had a trading volume of 2,583,694 shares. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $54.80. The firm has a market cap of $93.53 billion, a P/E ratio of 75.39 and a beta of 1.06. The firm’s 50-day moving average price is $51.11 and its 200 day moving average price is $47.53.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The business’s revenue was up 24.5% on a year-over-year basis. On average, analysts expect that Abbott Laboratories will post $2.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
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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