Abbott Laboratories (NYSE:ABT) Holdings Lifted by Vivaldi Capital Management LLC
Vivaldi Capital Management LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,775 shares of the healthcare product maker’s stock after buying an additional 645 shares during the quarter. Vivaldi Capital Management LLC’s holdings in Abbott Laboratories were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Cumberland Partners Ltd grew its holdings in shares of Abbott Laboratories by 25.0% during the second quarter. Cumberland Partners Ltd now owns 4,500 shares of the healthcare product maker’s stock valued at $378,000 after buying an additional 900 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Abbott Laboratories by 91.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock valued at $122,138,000 after purchasing an additional 694,262 shares during the last quarter. Cypress Capital Management LLC boosted its position in Abbott Laboratories by 2.0% during the second quarter. Cypress Capital Management LLC now owns 203,419 shares of the healthcare product maker’s stock valued at $17,108,000 after purchasing an additional 4,000 shares during the last quarter. Krueger & Catalano Capital Partners LLC acquired a new stake in Abbott Laboratories during the first quarter valued at $244,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Abbott Laboratories by 3.8% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 73.72% of the company’s stock.
In related news, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the transaction, the director now owns 26,266 shares of the company’s stock, valued at approximately $2,302,214.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Pederson sold 23,008 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $86.39, for a total value of $1,987,661.12. Following the transaction, the senior vice president now directly owns 104,228 shares of the company’s stock, valued at approximately $9,004,256.92. The disclosure for this sale can be found here. Insiders have sold a total of 252,497 shares of company stock valued at $21,665,810 in the last three months. 0.70% of the stock is owned by insiders.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
A number of analysts recently issued reports on the company. Bank of America reissued a “buy” rating and set a $81.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 13th. Raymond James lifted their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Wells Fargo & Co lifted their price objective on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group lifted their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $86.38.
Abbott Laboratories Company 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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