Wintrust Investments LLC increased its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,590 shares of the healthcare product maker’s stock after buying an additional 1,114 shares during the period. Wintrust Investments LLC’s holdings in Abbott Laboratories were worth $2,790,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Scissortail Wealth Management LLC purchased a new stake in Abbott Laboratories in the first quarter worth about $1,475,747,000. Aspire Private Capital LLC purchased a new stake in Abbott Laboratories in the first quarter worth about $16,271,874,000. Graham Capital Wealth Management LLC purchased a new stake in Abbott Laboratories in the first quarter worth about $244,037,000. Altshuler Shaham Ltd purchased a new stake in Abbott Laboratories in the fourth quarter worth about $28,000. Finally, Financial Gravity Asset Management Inc. grew its holdings in Abbott Laboratories by 134.5% in the first quarter. Financial Gravity Asset Management Inc. now owns 258 shares of the healthcare product maker’s stock worth $316,000 after purchasing an additional 148 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.
Abbott Laboratories Stock Up 0.4 %
Shares of ABT stock opened at $97.48 on Wednesday. The stock has a market cap of $169.23 billion, a P/E ratio of 33.02, a PEG ratio of 4.24 and a beta of 0.69. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $115.83. The company has a quick ratio of 1.23, a current ratio of 1.74 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $96.58 and its two-hundred day simple moving average is $103.19.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 12.92% and a return on equity of 20.15%. The business had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 4.44 EPS for the current fiscal year.
Abbott Laboratories Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.09%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 69.39%.
Analysts Set New Price Targets
ABT has been the topic of a number of recent analyst reports. Mizuho increased their price target on shares of Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Wells Fargo & Company dropped their target price on shares of Abbott Laboratories from $136.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. TheStreet cut shares of Abbott Laboratories from a “b-” rating to a “c+” rating in a report on Monday, October 16th. Wolfe Research upgraded shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 21st. Finally, Raymond James decreased their price target on shares of Abbott Laboratories from $123.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, October 19th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.
Read Our Latest Stock Analysis on Abbott Laboratories
Insider Transactions at Abbott Laboratories
In other news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $94.05, for a total value of $4,702,500.00. Following the sale, the director now directly owns 6,725,316 shares in the company, valued at approximately $632,515,969.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.
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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