Guidant Wealth Advisors Has $178,000 Holdings in Abbott Laboratories (ABT)
Guidant Wealth Advisors boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,705 shares of the healthcare product maker’s stock after purchasing an additional 418 shares during the quarter. Guidant Wealth Advisors’ holdings in Abbott Laboratories were worth $178,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Winfield Associates Inc. increased its holdings in Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after purchasing an additional 89 shares during the last quarter. V Wealth Management LLC purchased a new stake in Abbott Laboratories during the 2nd quarter worth approximately $127,000. JFS Wealth Advisors LLC increased its holdings in Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,094 shares during the last quarter. Atwood & Palmer Inc. increased its holdings in Abbott Laboratories by 157.5% during the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Lee Financial Co increased its holdings in Abbott Laboratories by 1.7% during the 2nd quarter. Lee Financial Co now owns 3,388 shares of the healthcare product maker’s stock worth $165,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 71.45% of the company’s stock.
ABT has been the subject of a number of research analyst reports. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. BidaskClub downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. Guggenheim initiated coverage on Abbott Laboratories in a report on Thursday, June 29th. They issued a “buy” rating and a $58.00 price target for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Friday, July 21st. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $56.81.
Abbott Laboratories (NYSE ABT) opened at 56.32 on Friday. The company’s 50-day moving average price is $53.27 and its 200-day moving average price is $48.51. The firm has a market cap of $97.85 billion, a price-to-earnings ratio of 78.88 and a beta of 1.06. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $56.60.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the prior year, the firm posted $0.59 EPS. Abbott Laboratories’s quarterly revenue was up 28.8% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post $2.50 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.88%. Abbott Laboratories’s payout ratio is presently 83.47%.
In other news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 333,310 shares of company stock valued at $16,857,255. 0.76% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).
Receive News & Stock Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related stocks with our FREE daily email newsletter.