Abbott Laboratories (ABT) Stake Maintained by FundX Investment Group LLC
FundX Investment Group LLC continued to hold its position in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,000 shares of the healthcare product maker’s stock at the end of the 2nd quarter. Abbott Laboratories accounts for 0.4% of FundX Investment Group LLC’s investment portfolio, making the stock its 21st largest holding. FundX Investment Group LLC’s holdings in Abbott Laboratories were worth $924,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winfield Associates Inc. raised its stake in shares of Abbott Laboratories by 3.9% in 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 during the period. V Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $127,000. JFS Wealth Advisors LLC raised its stake in shares of Abbott Laboratories by 349.0% in 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 during the period. Burt Wealth Advisors raised its stake in shares of Abbott Laboratories by 14.4% in 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 during the period. Finally, Lee Financial Co raised its stake in shares of Abbott Laboratories by 1.7% in the 2nd quarter. Lee Financial Co now owns 3,388 shares of the healthcare product maker’s stock valued at $165,000 after purchasing an additional 57 shares during the period. 71.39% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 58,739 shares in the company, valued at $3,052,665.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,313 shares of company stock valued at $21,205,356. Corporate insiders own 0.76% of the company’s stock.
ABT has been the topic of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and issued a $57.00 target price (up previously from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. BidaskClub downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.81.
Shares of Abbott Laboratories (ABT) opened at $54.80 on Friday. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $56.69. The stock has a market capitalization of $95,384.93, a P/E ratio of 22.74, a PEG ratio of 2.05 and a beta of 1.06. 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 issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue was up 28.8% on a year-over-year basis. equities research analysts expect that Abbott Laboratories will post 2.5 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 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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