Equitable Holdings Inc. lifted its stake in Abbott Laboratories (NYSE:ABT) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,492 shares of the healthcare product maker’s stock after buying an additional 160 shares during the period. Equitable Holdings Inc.’s holdings in Abbott Laboratories were worth $1,100,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Main Street Financial Solutions LLC increased its position in shares of Abbott Laboratories by 1.3% during the second quarter. Main Street Financial Solutions LLC now owns 6,490 shares of the healthcare product maker’s stock worth $752,000 after acquiring an additional 83 shares during the period. Glassman Wealth Services increased its holdings in Abbott Laboratories by 6.2% during the second quarter. Glassman Wealth Services now owns 1,479 shares of the healthcare product maker’s stock valued at $171,000 after buying an additional 86 shares during the period. 44 Wealth Management LLC increased its holdings in Abbott Laboratories by 4.5% during the second quarter. 44 Wealth Management LLC now owns 2,042 shares of the healthcare product maker’s stock valued at $237,000 after buying an additional 87 shares during the period. Intrust Bank NA increased its holdings in Abbott Laboratories by 0.4% during the second quarter. Intrust Bank NA now owns 25,447 shares of the healthcare product maker’s stock valued at $2,950,000 after buying an additional 89 shares during the period. Finally, Eads & Heald Wealth Management increased its holdings in Abbott Laboratories by 0.5% during the second quarter. Eads & Heald Wealth Management now owns 17,580 shares of the healthcare product maker’s stock valued at $2,038,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 72.05% of the company’s stock.
In other news, SVP Michael D. Dale sold 17,600 shares of the business’s stock in a transaction dated Wednesday, July 28th. The shares were sold at an average price of $120.33, for a total transaction of $2,117,808.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sammy Karam sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. The disclosure for this sale can be found here. Insiders sold 222,883 shares of company stock valued at $27,964,400 in the last ninety days. 1.50% of the stock is owned by corporate insiders.
NYSE ABT opened at $124.65 on Thursday. The company has a market capitalization of $220.98 billion, a PE ratio of 35.11, a P/E/G ratio of 2.45 and a beta of 0.66. The company has a fifty day moving average of $123.93 and a 200 day moving average of $119.58. Abbott Laboratories has a 1 year low of $100.34 and a 1 year high of $129.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.15. The company had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $9.67 billion. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. Research analysts expect that Abbott Laboratories will post 4.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, October 15th will be issued a $0.45 dividend. The ex-dividend date is Thursday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. Abbott Laboratories’s payout ratio is 49.32%.
About Abbott Laboratories
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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