Ballast Inc. Makes New $289,000 Investment in Abbott Laboratories (NYSE:ABT)
Ballast Inc. purchased a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,661 shares of the healthcare product maker’s stock, valued at approximately $289,000.
A number of other large investors also recently bought and sold shares of ABT. RPG Investment Advisory LLC grew its holdings in Abbott Laboratories by 113.4% during the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 203 shares in the last quarter. Crewe Advisors LLC grew its holdings in Abbott Laboratories by 278.4% during the 3rd quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock worth $40,000 after acquiring an additional 270 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its position in shares of Abbott Laboratories by 159.9% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock worth $41,000 after buying an additional 275 shares during the last quarter. Islay Capital Management LLC bought a new position in shares of Abbott Laboratories in the 2nd quarter worth about $46,000. Finally, Arlington Partners LLC lifted its position in shares of Abbott Laboratories by 1,187.8% in the 2nd quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock worth $48,000 after buying an additional 487 shares during the last quarter. 73.09% of the stock is currently owned by institutional investors.
In other Abbott Laboratories news, EVP Andrea F. Wainer sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $107.01, for a total transaction of $3,210,300.00. Following the sale, the executive vice president now directly owns 74,080 shares in the company, valued at approximately $7,927,300.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne S. Austin sold 6,844 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $99.80, for a total transaction of $683,031.20. Following the sale, the director now owns 40,043 shares in the company, valued at $3,996,291.40. The disclosure for this sale can be found here. Insiders have sold a total of 114,771 shares of company stock worth $12,220,943 over the last 90 days. 1.70% of the stock is owned by insiders.
Shares of NYSE:ABT opened at $109.67 on Friday. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $114.19. The company has a market cap of $194.17 billion, a PE ratio of 63.39, a P/E/G ratio of 3.06 and a beta of 0.92. The company’s 50-day moving average price is $106.58 and its 200 day moving average price is $96.39. The company has a quick ratio of 1.10, a current ratio of 1.57 and a debt-to-equity ratio of 0.59.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same period in the previous year, the firm earned $0.82 EPS. Abbott Laboratories’s revenue was down 8.2% on a year-over-year basis. As a group, equities analysts anticipate that Abbott Laboratories will post 3.3 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.31%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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