Nwam LLC increased its position in Abbott Laboratories (NYSE:ABT – Free Report) by 162.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,304 shares of the healthcare product maker’s stock after purchasing an additional 8,233 shares during the period. Nwam LLC’s holdings in Abbott Laboratories were worth $1,450,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado lifted its holdings in shares of Abbott Laboratories by 9.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 1,415,759 shares of the healthcare product maker’s stock valued at $154,346,000 after purchasing an additional 126,547 shares in the last quarter. Core Alternative Capital raised its stake in shares of Abbott Laboratories by 27.0% in the second quarter. Core Alternative Capital now owns 1,290 shares of the healthcare product maker’s stock worth $141,000 after buying an additional 274 shares during the period. Fort Sheridan Advisors LLC raised its stake in shares of Abbott Laboratories by 315.5% in the first quarter. Fort Sheridan Advisors LLC now owns 12,182 shares of the healthcare product maker’s stock worth $1,234,000 after buying an additional 9,250 shares during the period. Freestone Capital Holdings LLC raised its stake in shares of Abbott Laboratories by 12.8% in the first quarter. Freestone Capital Holdings LLC now owns 99,836 shares of the healthcare product maker’s stock worth $10,109,000 after buying an additional 11,303 shares during the period. Finally, Harbour Investment Management LLC raised its stake in shares of Abbott Laboratories by 0.5% in the first quarter. Harbour Investment Management LLC now owns 26,750 shares of the healthcare product maker’s stock worth $2,709,000 after buying an additional 138 shares during the period. 73.70% of the stock is owned by institutional investors.
Insider Transactions at Abbott Laboratories
In related news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $94.05, for a total transaction of $4,702,500.00. Following the completion of the transaction, the director now owns 6,725,316 shares in the company, valued at approximately $632,515,969.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.
Abbott Laboratories Trading Up 0.8 %
Shares of Abbott Laboratories stock traded up $0.83 on Thursday, reaching $98.83. The company had a trading volume of 597,135 shares, compared to its average volume of 5,111,480. The firm has a market cap of $171.57 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 4.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 1.23. The firm’s 50-day moving average price is $96.50 and its two-hundred day moving average price is $103.15. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $115.83.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Abbott Laboratories had a return on equity of 20.15% and a net margin of 12.92%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. As a group, research analysts predict that Abbott Laboratories will post 4.44 earnings per share for the current fiscal year.
Abbott Laboratories Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 69.39%.
Wall Street Analyst Weigh In
Several research firms have recently commented on ABT. StockNews.com began coverage on Abbott Laboratories in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. UBS Group decreased their price objective on Abbott Laboratories from $130.00 to $118.00 in a research note on Thursday, October 19th. Barclays lifted their target price on Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Raymond James decreased their target price on Abbott Laboratories from $123.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, October 19th. Finally, Wells Fargo & Company decreased their target price on Abbott Laboratories from $136.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.
Check Out Our Latest Report 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 Established Pharmaceutical Products segment 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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