Checchi Capital Advisers LLC Trims Stake in ABB Ltd (ABB)
Checchi Capital Advisers LLC trimmed its holdings in ABB Ltd (NYSE:ABB) by 18.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,358 shares of the industrial products company’s stock after selling 3,167 shares during the period. Checchi Capital Advisers LLC’s holdings in ABB were worth $355,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Financial Architects Inc raised its holdings in shares of ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after buying an additional 4,015 shares during the last quarter. Ledyard National Bank raised its holdings in shares of ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after buying an additional 150 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of ABB by 296.7% in the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock valued at $120,000 after buying an additional 3,590 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of ABB in the second quarter valued at about $120,000. Finally, Huntington National Bank raised its holdings in shares of ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after buying an additional 1,575 shares during the last quarter. 4.45% of the stock is owned by institutional investors and hedge funds.
Shares of ABB Ltd (ABB) traded down $0.03 during trading on Monday, hitting $26.17. 623,832 shares of the stock were exchanged, compared to its average volume of 1,460,000. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. ABB Ltd has a twelve month low of $20.26 and a twelve month high of $26.48. The firm has a market capitalization of $56,860.00, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 3.44 and a beta of 1.07.
ABB (NYSE:ABB) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. ABB had a net margin of 6.79% and a return on equity of 18.65%. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.55 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. equities analysts forecast that ABB Ltd will post 1.23 EPS for the current fiscal year.
A number of equities research analysts have recently commented on ABB shares. Morgan Stanley cut shares of ABB from an “overweight” rating to an “equal weight” rating in a report on Friday, July 21st. UBS AG reiterated a “sell” rating on shares of ABB in a research note on Monday, July 24th. Robert W. Baird set a $28.00 price target on shares of ABB and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, BidaskClub lowered shares of ABB from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. ABB presently has an average rating of “Hold” and a consensus target price of $23.50.
ABB Company Profile
ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.
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