L & S Advisors Inc Purchases 150 Shares of Abbott Laboratories (ABT)
L & S Advisors Inc boosted its position in Abbott Laboratories (NYSE:ABT) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,348 shares of the healthcare product maker’s stock after buying an additional 150 shares during the period. L & S Advisors Inc’s holdings in Abbott Laboratories were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Villere ST Denis J & Co. LLC lifted its holdings in Abbott Laboratories by 2.3% in the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock valued at $13,037,000 after acquiring an additional 5,950 shares during the period. Private Bank & Trust Co. lifted its holdings in Abbott Laboratories by 12.3% in the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock valued at $1,473,000 after acquiring an additional 3,330 shares during the period. Gratus Capital LLC lifted its holdings in Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after acquiring an additional 1,869 shares during the period. Comerica Securities Inc. acquired a new position in Abbott Laboratories in the first quarter valued at approximately $2,833,000. Finally, AQR Capital Management LLC lifted its holdings in Abbott Laboratories by 264.8% in the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after acquiring an additional 460,477 shares during the period. Hedge funds and other institutional investors own 71.32% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) opened at $54.64 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a 12-month low of $37.90 and a 12-month high of $56.69. The company has a market capitalization of $95,106.44, a P/E ratio of 22.67, a P/E/G ratio of 2.05 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. analysts predict that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s payout ratio is 83.47%.
In related news, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the completion of the sale, the insider now directly owns 58,739 shares in the company, valued at $3,052,665.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total value of $120,266.58. Following the sale, the insider now owns 10,256 shares of the company’s stock, valued at $572,900.16. The disclosure for this sale can be found here. Insiders have sold 588,013 shares of company stock valued at $32,023,946 over the last quarter. 0.76% of the stock is owned by company insiders.
ABT has been the subject of a number of analyst reports. Cowen reissued a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. Citigroup assumed coverage on Abbott Laboratories in a research note on Thursday, August 17th. They set a “neutral” rating and a $53.00 target price for the company. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 target price on shares of Abbott Laboratories in a research note on Friday, September 1st. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, September 22nd. Finally, Wells Fargo & Company upped their target price on Abbott Laboratories from $57.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $56.81.
About Abbott Laboratories
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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