Northeast Investment Management reduced its holdings in Abbott Laboratories (NYSE:ABT) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,749 shares of the healthcare product maker’s stock after selling 3,355 shares during the period. Northeast Investment Management’s holdings in Abbott Laboratories were worth $6,550,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in ABT. Winfield Associates Inc. lifted its stake in Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares in the last quarter. V Wealth Management LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $127,000. JFS Wealth Advisors LLC lifted its stake in Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,094 shares in the last quarter. Farmers National Bank raised its stake in shares of Abbott Laboratories by 1.5% during the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after purchasing an additional 52 shares in the last quarter. Finally, Advantage Investment Management LLC raised its stake in shares of Abbott Laboratories by 17.3% during the 1st quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock worth $163,000 after purchasing an additional 543 shares in the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 19th. Royal Bank Of Canada raised their price target on Abbott Laboratories from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. Stifel Nicolaus raised their price target on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Cowen and Company set a $68.00 price target on Abbott Laboratories and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $56.81.
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Shares of Abbott Laboratories (ABT) opened at $55.47 on Friday. The firm has a market cap of $94.64 billion, a PE ratio of 22.56, a P/E/G ratio of 2.04 and a beta of 1.06. The company has a quick ratio of 2.41, a current ratio of 2.94 and a debt-to-equity ratio of 0.75.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The company’s revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. equities research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 83.47%.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the sale, the executive vice president now owns 142,082 shares of the company’s stock, valued at approximately $7,986,429.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jaime Contreras sold 52,700 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now directly owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders sold a total of 408,313 shares of company stock worth $21,205,356 in the last ninety days. Insiders own 0.76% of the company’s stock.
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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