AR Asset Management Inc. Continues to Hold Position in Abbott Laboratories (ABT)
AR Asset Management Inc. continued to hold its stake in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,700 shares of the healthcare product maker’s stock at the close of the second quarter. AR Asset Management Inc.’s holdings in Abbott Laboratories were worth $423,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Winfield Associates Inc. grew its position 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 worth $116,000 after acquiring an additional 89 shares in the last quarter. V Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $127,000. JFS Wealth Advisors LLC grew its position 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 worth $131,000 after acquiring an additional 2,094 shares in the last quarter. Burt Wealth Advisors grew its position 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 worth $154,000 after acquiring an additional 400 shares in the last quarter. Finally, Farmers National Bank grew its position in shares of Abbott Laboratories by 1.5% in the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 71.39% of the company’s stock.
Several brokerages have recently commented on ABT. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, October 31st. Barclays PLC reiterated an “overweight” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Citigroup Inc. restated a “neutral” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. BMO Capital Markets restated a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Finally, Cowen and Company set a $68.00 price objective on Abbott Laboratories and gave the company a “buy” rating in a research report on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.81.
In other news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total value of $9,729,225.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the completion of the sale, the executive vice president now directly owns 142,082 shares in the company, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. Insiders sold a total of 408,313 shares of company stock worth $21,205,356 in the last three months. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (ABT) opened at $54.80 on Friday. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $56.69. 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 stock has a market capitalization of $95,384.93, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Zacks’ 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 company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. sell-side analysts expect that Abbott Laboratories will post 2.5 earnings per share for the current fiscal 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 paid a $0.265 dividend. 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%.
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Abbott Laboratories Profile
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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