Everence Capital Management Inc. maintained its position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,251 shares of the healthcare product maker’s stock at the end of the second quarter. Everence Capital Management Inc.’s holdings in Abbott Laboratories were worth $2,491,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABT. Winfield Associates Inc. raised its holdings in shares of Abbott Laboratories by 3.9% during 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 during the period. V Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth $127,000. JFS Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 349.0% during 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 during the period. Farmers National Bank raised its holdings 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 acquiring an additional 52 shares during the period. Finally, Advantage Investment Management LLC raised its holdings 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 acquiring an additional 543 shares during the period. Institutional investors and hedge funds own 71.35% of the company’s stock.
Several research firms have recently commented on ABT. Barclays PLC lifted their price target on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 28th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus lifted their price target on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a report on Monday, October 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a report on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $56.81.
In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the transaction, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,313 shares of company stock valued at $21,205,356. 0.76% of the stock is currently owned by corporate insiders.
Abbott Laboratories (ABT) opened at $55.47 on Friday. The firm has a market capitalization of $96,551.14, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.08 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.94 and a quick ratio of 2.41. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $56.69.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. equities research analysts anticipate that Abbott Laboratories will post 2.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
Abbott Laboratories 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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