Bienville Capital Management LLC Purchases New Position in Abbott Laboratories (ABT)
Bienville Capital Management LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,940 shares of the healthcare product maker’s stock, valued at approximately $219,000.
A number of other institutional investors also recently made changes to their positions in the stock. Weybosset Research & Management LLC bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $209,000. Stokes & Hubbell Capital Management LLC increased its position in shares of Abbott Laboratories by 1.0% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 48,180 shares of the healthcare product maker’s stock valued at $2,140,000 after buying an additional 486 shares during the period. Alpha Windward LLC increased its position in shares of Abbott Laboratories by 2.1% in the first quarter. Alpha Windward LLC now owns 5,404 shares of the healthcare product maker’s stock valued at $240,000 after buying an additional 109 shares during the period. First Command Financial Services Inc. increased its position in shares of Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares during the period. Finally, Parametrica Management Ltd bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $217,000. Institutional investors own 71.64% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.508% on Wednesday, reaching $49.895. The company had a trading volume of 818,719 shares. The firm has a market capitalization of $86.69 billion, a price-to-earnings ratio of 69.881 and a beta of 1.07. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13. The company’s 50-day moving average price is $49.25 and its 200-day moving average price is $46.20.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. On average, analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.
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Several equities analysts have commented on ABT shares. Jefferies Group LLC reiterated a “buy” rating and set a $51.00 price target (up previously from $50.00) on shares of Abbott Laboratories in a report on Friday, May 12th. Royal Bank Of Canada reiterated a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) started coverage on Abbott Laboratories in a report on Tuesday, May 16th. They set a “neutral” rating and a $45.00 price target on the stock. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, May 16th. Finally, TheStreet downgraded Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $52.14.
In other news, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the transaction, the insider now directly owns 47,090 shares in the company, valued at $2,258,907.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the transaction, the insider now owns 221,488 shares of the company’s stock, valued at $10,188,448. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,252 shares of company stock valued at $19,878,958. 0.76% of the stock is owned by company insiders.
Abbott Laboratories Company 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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