Foothills Asset Management Ltd. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,344 shares of the healthcare product maker’s stock after selling 5 shares during the period. Foothills Asset Management Ltd.’s holdings in Abbott Laboratories were worth $1,426,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter worth about $4,680,000. Cypress Capital Management LLC WY boosted its position in shares of Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after buying an additional 696 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of Abbott Laboratories during the first quarter worth about $112,000. V Wealth Management LLC bought a new position in shares of Abbott Laboratories during the second quarter worth about $127,000. Finally, First Command Financial Services Inc. boosted its position in shares of Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock worth $124,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.
Shares of Abbott Laboratories (NYSE ABT) opened at 48.54 on Friday. The company has a market cap of $84.34 billion, a price-to-earnings ratio of 67.98 and a beta of 1.07. The firm’s 50-day moving average price is $49.09 and its 200 day moving average price is $45.65. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. On average, analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.18%. Abbott Laboratories’s payout ratio is currently 149.30%.
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A number of brokerages have issued reports on ABT. UBS AG reiterated a “neutral” rating and set a $41.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, April 18th. Jefferies Group LLC reiterated a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 3rd. BidaskClub cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $51.93.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,188,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the transaction, the insider now owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. Insiders have sold a total of 218,702 shares of company stock valued at $10,149,733 in the last quarter. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories Company Profile
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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