Capital Analysts LLC Buys Shares of 64,656 Abbott Laboratories (ABT)
Capital Analysts LLC bought a new position in Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 64,656 shares of the healthcare product maker’s stock, valued at approximately $3,143,000.
A number of other hedge funds have also bought and sold shares of the business. Winfield Associates Inc. lifted its stake in shares of Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after buying an additional 89 shares during the last quarter. V Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the second quarter worth $127,000. JFS Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after buying an additional 2,094 shares during the last quarter. Burt Wealth Advisors lifted its stake in shares of Abbott Laboratories by 14.4% in the second quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock worth $154,000 after buying an additional 400 shares during the last quarter. Finally, Farmers National Bank lifted its stake in shares of Abbott Laboratories by 1.5% in the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after buying an additional 52 shares during the last quarter. 70.64% of the stock is owned by institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) opened at $55.54 on Friday. The stock has a market cap of $95,437.16, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a fifty-two week low of $37.38 and a fifty-two week high of $56.69.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. equities research analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction 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 sale, the insider now owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the completion of the sale, the insider now directly owns 113,426 shares in the company, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. Insiders sold a total of 282,920 shares of company stock worth $15,389,766 in the last three months. Insiders own 0.76% of the company’s stock.
A number of brokerages have recently weighed in on ABT. Barclays PLC boosted their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 28th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. BMO Capital Markets restated a “hold” rating and issued a $53.00 price objective on shares of Abbott Laboratories in a research note on Monday, October 2nd. Finally, BidaskClub cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $56.81.
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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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