LS Investment Advisors LLC Buys 28,762 Shares of Abbott Laboratories (ABT)
LS Investment Advisors LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 27.1% during the first quarter, Holdings Channel reports. The firm owned 134,740 shares of the healthcare product maker’s stock after buying an additional 28,762 shares during the period. LS Investment Advisors LLC’s holdings in Abbott Laboratories were worth $5,984,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Capital Management LLC raised its position in Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after buying an additional 26 shares during the period. Pure Financial Advisors Inc. raised its position in Abbott Laboratories by 0.4% in the first quarter. Pure Financial Advisors Inc. now owns 11,004 shares of the healthcare product maker’s stock worth $489,000 after buying an additional 45 shares during the period. Delta Asset Management LLC TN raised its position in Abbott Laboratories by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 51 shares during the period. Alexandria Capital LLC raised its position in Abbott Laboratories by 0.5% in the first quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock worth $503,000 after buying an additional 56 shares during the period. Finally, Burns J W & Co. Inc. NY raised its position in Abbott Laboratories by 0.3% in the first quarter. Burns J W & Co. Inc. NY now owns 20,946 shares of the healthcare product maker’s stock worth $930,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 71.08% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) opened at 50.40 on Thursday. The firm has a market cap of $87.46 billion, a PE ratio of 56.63 and a beta of 1.07. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13. The stock’s 50 day moving average price is $48.44 and its 200-day moving average price is $44.89.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 15.53%. The business had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter last year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.10%. Abbott Laboratories’s payout ratio is 149.30%.
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A number of brokerages have issued reports on ABT. UBS AG reaffirmed a “neutral” rating and set a $41.00 price target on shares of Abbott Laboratories in a report on Tuesday, April 18th. Jefferies Group LLC decreased their price target on Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Cowen and Company reaffirmed an “outperform” rating and set a $48.00 price target on shares of Abbott Laboratories in a report on Saturday, April 22nd. Finally, TheStreet downgraded Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Abbott Laboratories has an average rating of “Buy” and an average price target of $52.13.
In other news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the transaction, the insider now owns 221,488 shares of the company’s stock, valued at $10,188,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jared Watkin sold 552 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the transaction, the insider now directly owns 47,090 shares in the company, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. 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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