Doyle Wealth Management Has $7.45 Million Stake in Abbott Laboratories (ABT)
Doyle Wealth Management cut its position in Abbott Laboratories (NYSE:ABT) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,158 shares of the healthcare product maker’s stock after selling 1,701 shares during the quarter. Doyle Wealth Management’s holdings in Abbott Laboratories were worth $7,450,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of ABT. HC Financial Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $836,000. SNS Financial Group LLC boosted its stake in shares of Abbott Laboratories by 8.9% in the first quarter. SNS Financial Group LLC now owns 15,923 shares of the healthcare product maker’s stock worth $954,000 after acquiring an additional 1,308 shares during the last quarter. OLD Dominion Capital Management Inc. acquired a new stake in shares of Abbott Laboratories in the first quarter worth approximately $327,000. FDx Advisors Inc. boosted its stake in shares of Abbott Laboratories by 9.3% in the first quarter. FDx Advisors Inc. now owns 54,638 shares of the healthcare product maker’s stock worth $3,274,000 after acquiring an additional 4,644 shares during the last quarter. Finally, Howland Capital Management LLC boosted its stake in shares of Abbott Laboratories by 9.8% in the first quarter. Howland Capital Management LLC now owns 39,254 shares of the healthcare product maker’s stock worth $2,352,000 after acquiring an additional 3,510 shares during the last quarter. Institutional investors own 72.00% of the company’s stock.
In other Abbott Laboratories news, EVP Brian J. Blaser sold 15,100 shares of Abbott Laboratories stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total value of $965,796.00. Following the sale, the executive vice president now owns 151,718 shares in the company, valued at $9,703,883.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sharon J. Bracken sold 615 shares of Abbott Laboratories stock in a transaction on Monday, July 30th. The shares were sold at an average price of $65.16, for a total value of $40,073.40. Following the completion of the sale, the insider now owns 40,761 shares in the company, valued at approximately $2,655,986.76. The disclosure for this sale can be found here. Insiders sold 17,024 shares of company stock worth $1,088,840 in the last 90 days. Company insiders own 0.74% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter last year, the business posted $0.62 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. research analysts predict that Abbott Laboratories will post 2.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.69%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
ABT has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $70.00 price target on shares of Abbott Laboratories in a research note on Thursday, July 19th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Thursday, July 19th. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, July 19th. Finally, Sanford C. Bernstein started coverage on Abbott Laboratories in a research report on Wednesday, June 27th. They set an “outperform” rating and a $73.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $69.88.
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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