NTV Asset Management LLC Has $2,222,000 Stake in Abbott Laboratories (ABT)
NTV Asset Management LLC held its stake in Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 45,714 shares of the healthcare product maker’s stock at the close of the 2nd quarter. NTV Asset Management LLC’s holdings in Abbott Laboratories were worth $2,222,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in ABT. Winfield Associates Inc. increased its stake 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 valued at $116,000 after purchasing an additional 89 shares in the last quarter. V Wealth Management LLC bought a new stake in Abbott Laboratories during the 2nd quarter valued at $127,000. JFS Wealth Advisors LLC increased its stake 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 valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. Burt Wealth Advisors increased its stake in Abbott Laboratories by 14.4% during the 2nd quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock valued at $154,000 after purchasing an additional 400 shares in the last quarter. Finally, Farmers National Bank increased its stake in Abbott Laboratories by 1.5% during the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.
A number of analysts have commented on ABT shares. Stifel Nicolaus restated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and issued a $57.00 target price (up previously from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. BidaskClub lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $56.81.
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In other news, insider Jaime Contreras sold 52,700 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the sale, the insider now directly owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the sale, the executive vice president now directly owns 142,082 shares in the company, valued at $7,986,429.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,763 shares of company stock worth $11,476,131. Insiders own 0.76% of the company’s stock.
Shares of Abbott Laboratories (ABT) opened at $55.01 on Wednesday. The company has a market cap of $96,255.23, a PE ratio of 22.95, a price-to-earnings-growth ratio of 2.07 and a beta of 1.06. Abbott Laboratories has a fifty-two week low of $37.38 and a fifty-two week high of $56.69. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. equities research analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current year.
The firm 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 dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
Abbott Laboratories 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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