Front Barnett Associates LLC Has $830,000 Holdings in Abbott Laboratories (ABT)

Front Barnett Associates LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,076 shares of the healthcare product maker’s stock after selling 50 shares during the period. Front Barnett Associates LLC’s holdings in Abbott Laboratories were worth $830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Wellington Shields Capital Management LLC lifted its stake in Abbott Laboratories by 2.0% during the first quarter. Wellington Shields Capital Management LLC now owns 30,918 shares of the healthcare product maker’s stock worth $1,373,000 after purchasing an additional 600 shares during the period. Horan Capital Advisors LLC. lifted its stake in Abbott Laboratories by 6.5% during the first quarter. Horan Capital Advisors LLC. now owns 49,802 shares of the healthcare product maker’s stock worth $2,212,000 after purchasing an additional 3,050 shares during the period. Bank of New York Mellon Corp lifted its stake in Abbott Laboratories by 11.0% during the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after purchasing an additional 3,344,508 shares during the period. Suntrust Banks Inc. lifted its stake in Abbott Laboratories by 3.1% during the first quarter. Suntrust Banks Inc. now owns 798,945 shares of the healthcare product maker’s stock worth $35,480,000 after purchasing an additional 24,090 shares during the period. Finally, Baltimore Capital Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $256,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.

Shares of Abbott Laboratories (NYSE ABT) opened at $55.29 on Tuesday. Abbott Laboratories has a fifty-two week low of $37.38 and a fifty-two week high of $56.69. The firm has a market cap of $96,240.00, a P/E ratio of 23.05, a P/E/G ratio of 2.08 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.21% and a return on equity of 7.07%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same period last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. research analysts expect that Abbott Laboratories will post 2.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.92%. Abbott Laboratories’s payout ratio is presently 87.60%.

TRADEMARK VIOLATION NOTICE: “Front Barnett Associates LLC Has $830,000 Holdings in Abbott Laboratories (ABT)” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.com-unik.info/2017/11/21/front-barnett-associates-llc-has-830000-holdings-in-abbott-laboratories-abt.html.

Several research firms have recently weighed in on ABT. BidaskClub lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Barclays PLC raised their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.81.

In other Abbott Laboratories news, insider Brian J. Blaser sold 23,866 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were 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 in the company, valued at $7,986,429.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,786 shares of company stock worth $16,715,522. 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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

What are top analysts saying about Abbott Laboratories? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Abbott Laboratories and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit