Verus Financial Partners Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 4.4% in the second quarter, HoldingsChannel.com reports. The fund owned 1,781 shares of the healthcare product maker’s stock after selling 82 shares during the period. Verus Financial Partners Inc.’s holdings in Abbott Laboratories were worth $237,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Kelly Financial Services LLC bought a new stake in Abbott Laboratories in the 1st quarter worth approximately $216,000. Edge Financial Advisors LLC lifted its position in Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock worth $336,000 after buying an additional 81 shares during the last quarter. Avanza Fonder AB lifted its position in Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares during the last quarter. Madrona Financial Services LLC lifted its position in Abbott Laboratories by 9.7% in the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after buying an additional 152 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Abbott Laboratories by 12.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after buying an additional 73,780 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Price Performance
ABT opened at $133.05 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock has a market capitalization of $231.56 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69. The stock’s 50 day moving average price is $131.78 and its 200-day moving average price is $131.28.
Abbott Laboratories Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is currently 29.57%.
Insider Buying and Selling at Abbott Laboratories
In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on ABT. Mizuho boosted their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Royal Bank Of Canada boosted their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Evercore ISI boosted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Wells Fargo & Company lowered their price objective on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Finally, The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $145.39.
Check Out Our Latest Stock Analysis on ABT
Abbott Laboratories Profile
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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