Abbott Laboratories (ABT) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 128,919 shares of the healthcare product maker’s stock after acquiring an additional 738 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Abbott Laboratories were worth $6,267,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Winfield Associates Inc. lifted its holdings in shares of Abbott Laboratories by 3.9% during the second 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 period. JFS Wealth Advisors LLC lifted its holdings in shares of Abbott Laboratories by 349.0% during the second 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 period. Motco lifted its holdings in shares of Abbott Laboratories by 213.7% during the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 1,962 shares during the period. Burt Wealth Advisors lifted its holdings in shares of Abbott Laboratories by 14.4% during the second quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock worth $154,000 after purchasing an additional 400 shares during the period. Finally, Farmers National Bank lifted its holdings in shares of Abbott Laboratories by 1.5% during the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.
In related news, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares in the company, valued at $572,900.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the sale, the insider now owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold 308,939 shares of company stock valued at $16,835,789 over the last quarter. 0.76% of the stock is owned by company insiders.
ABT has been the subject of a number of research reports. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. J P Morgan Chase & Co initiated coverage on Abbott Laboratories in a report on Friday, October 6th. They set a “neutral” rating and a $60.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Cowen and Company set a $68.00 target price on Abbott Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a report on Friday, September 1st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $56.81.
Abbott Laboratories (ABT) opened at $55.80 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The firm has a market capitalization of $97,682.52, a P/E ratio of 23.29, a PEG ratio of 2.10 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $56.69.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the prior year, the company posted $0.59 EPS. The business’s quarterly revenue was up 28.8% on a year-over-year basis. research analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s payout ratio is 83.47%.
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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