Abbott Laboratories (ABT) Position Maintained by Sippican Capital Advisors
Sippican Capital Advisors continued to hold its position in Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,982 shares of the healthcare product maker’s stock at the end of the second quarter. Sippican Capital Advisors’ holdings in Abbott Laboratories were worth $235,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sii Investments Inc. WI boosted its position in Abbott Laboratories by 36.2% in the first quarter. Sii Investments Inc. WI now owns 17,696 shares of the healthcare product maker’s stock valued at $737,000 after buying an additional 4,705 shares during the period. Investment Centers of America Inc. boosted its stake in shares of Abbott Laboratories by 22.0% in the first quarter. Investment Centers of America Inc. now owns 51,099 shares of the healthcare product maker’s stock worth $2,118,000 after buying an additional 9,207 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Abbott Laboratories by 7.3% in the first quarter. Glenmede Trust Co. NA now owns 1,639,874 shares of the healthcare product maker’s stock worth $68,595,000 after buying an additional 111,958 shares during the last quarter. St. Johns Investment Management Company LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth $899,000. Finally, Chesley Taft & Associates LLC boosted its stake in shares of Abbott Laboratories by 0.5% in the first quarter. Chesley Taft & Associates LLC now owns 321,856 shares of the healthcare product maker’s stock worth $13,463,000 after buying an additional 1,749 shares during the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.
Abbott Laboratories (NYSE:ABT) traded up 0.54% on Thursday, reaching $42.97. 7,250,220 shares of the company were exchanged. The firm has a market capitalization of $63.17 billion, a PE ratio of 28.36 and a beta of 0.87. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.38. The stock has a 50 day moving average of $42.31 and a 200 day moving average of $41.35.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The firm earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. Equities analysts anticipate that Abbott Laboratories will post ($0.01) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 68.87%.
A number of brokerages recently weighed in on ABT. Bank of America Corp. restated a “buy” rating and set a $50.00 target price on shares of Abbott Laboratories in a report on Friday, August 12th. Deutsche Bank AG restated a “buy” rating on shares of Abbott Laboratories in a report on Tuesday, August 9th. Jefferies Group raised their target price on shares of Abbott Laboratories from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. BTIG Research restated a “buy” rating and set a $45.00 target price on shares of Abbott Laboratories in a report on Wednesday, August 10th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $47.02.
In related news, Chairman Miles D. White purchased 242,547 shares of Abbott Laboratories stock in a transaction dated Monday, July 25th. The stock was bought at an average price of $43.18 per share, for a total transaction of $10,473,179.46. Following the completion of the acquisition, the chairman now directly owns 2,010,517 shares of the company’s stock, valued at $86,814,124.06. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the completion of the transaction, the senior vice president now owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
About Abbott Laboratories
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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