Abbott Laboratories (ABT) Shares Bought by Alley Co LLC
Alley Co LLC raised its position in Abbott Laboratories (NYSE:ABT) by 6.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,537 shares of the healthcare product maker’s stock after buying an additional 6,609 shares during the period. Abbott Laboratories comprises 2.0% of Alley Co LLC’s holdings, making the stock its 18th largest position. Alley Co LLC’s holdings in Abbott Laboratories were worth $4,953,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Chevy Chase Trust Holdings Inc. raised its position in shares of Abbott Laboratories by 19.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,611,080 shares of the healthcare product maker’s stock worth $71,546,000 after buying an additional 258,152 shares during the period. Bridges Investment Management Inc. raised its position in shares of Abbott Laboratories by 14.2% in the first quarter. Bridges Investment Management Inc. now owns 38,002 shares of the healthcare product maker’s stock worth $1,687,000 after buying an additional 4,725 shares during the period. McQueen Ball & Associates Inc. raised its position in shares of Abbott Laboratories by 0.4% in the first quarter. McQueen Ball & Associates Inc. now owns 46,104 shares of the healthcare product maker’s stock worth $2,047,000 after buying an additional 197 shares during the period. Foundry Partners LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth approximately $12,572,000. Finally, First Financial Bank N.A. Trust Division raised its position in shares of Abbott Laboratories by 1.4% in the first quarter. First Financial Bank N.A. Trust Division now owns 167,695 shares of the healthcare product maker’s stock worth $7,448,000 after buying an additional 2,389 shares during the period. Institutional investors own 70.98% of the company’s stock.
Shares of Abbott Laboratories (NYSE ABT) opened at 49.30 on Tuesday. The firm has a 50-day moving average price of $48.97 and a 200-day moving average price of $45.28. The company has a market capitalization of $85.55 billion, a PE ratio of 69.05 and a beta of 1.07. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 3.44% and a net margin of 4.07%. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. On average, equities research analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.15%. Abbott Laboratories’s dividend payout ratio is presently 149.30%.
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A number of research analysts have recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a report on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. BidaskClub lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday. Jefferies Group LLC reiterated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $51.93.
In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of Abbott Laboratories stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the transaction, the insider now directly owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The disclosure for this sale can be found here. Insiders sold a total of 218,702 shares of company stock valued at $10,149,733 over the last ninety days. 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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