Abbott Laboratories (ABT) Shares Bought by Jacobs & Co. CA
Jacobs & Co. CA boosted its stake in Abbott Laboratories (NYSE:ABT) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,287 shares of the healthcare product maker’s stock after purchasing an additional 3,160 shares during the period. Jacobs & Co. CA’s holdings in Abbott Laboratories were worth $5,069,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Sanders Morris Harris LLC increased its position in shares of Abbott Laboratories by 0.3% during the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after purchasing an additional 16 shares during the last quarter. Janney Capital Management LLC lifted its stake in shares of Abbott Laboratories by 0.4% in the 1st quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after purchasing an additional 26 shares during the period. Johanson Financial Advisors Inc. lifted its stake in shares of Abbott Laboratories by 0.5% in the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after purchasing an additional 37 shares during the period. Country Club Trust Company n.a. lifted its stake in shares of Abbott Laboratories by 0.5% in the 2nd quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock worth $356,000 after purchasing an additional 38 shares during the period. Finally, Delta Asset Management LLC TN lifted its stake in shares of Abbott Laboratories by 1.3% in the 1st quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after purchasing an additional 51 shares during the period. 71.50% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. 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. BidaskClub raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. BTIG Research assumed coverage on shares of Abbott Laboratories in a research report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Guggenheim started coverage on shares of Abbott Laboratories in a research report on Thursday, June 29th. They issued a “buy” rating and a $58.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $54.00.
In other news, insider Brian J. Blaser sold 15,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the sale, the insider now directly owns 143,154 shares of the company’s stock, valued at approximately $7,157,700. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction dated 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 owns 221,488 shares in the company, valued at $10,963,656. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,310 shares of company stock valued at $16,857,255. Insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE ABT) traded up 0.20% during trading on Wednesday, hitting $53.86. The stock had a trading volume of 3,491,303 shares. The firm’s 50-day moving average price is $51.24 and its 200-day moving average price is $47.59. The company has a market cap of $93.58 billion, a price-to-earnings ratio of 75.43 and a beta of 1.06. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $54.80.
Abbott Laboratories (NYSE:ABT) last announced 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. 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 quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. Analysts predict that Abbott Laboratories will post $2.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.97%. Abbott Laboratories’s payout ratio is 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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