SNS Financial Group LLC Has $811,000 Position in Abbott Laboratories (NYSE:ABT)
SNS Financial Group LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 16.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,253 shares of the healthcare product maker’s stock after buying an additional 2,641 shares during the period. SNS Financial Group LLC’s holdings in Abbott Laboratories were worth $811,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cypress Capital Management LLC WY increased its position in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. acquired a new position in shares of Abbott Laboratories during the first quarter valued at approximately $112,000. First Command Financial Services Inc. increased its position in shares of Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares in the last quarter. Atwood & Palmer Inc. increased its position in shares of Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after buying an additional 2,000 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in shares of Abbott Laboratories by 9.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock valued at $152,000 after buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Abbott Laboratories (NYSE ABT) traded down 0.68% during mid-day trading on Wednesday, reaching $48.55. The company had a trading volume of 564,036 shares. The stock has a market capitalization of $84.25 billion, a PE ratio of 68.00 and a beta of 1.07. The company’s 50-day moving average is $49.10 and its 200-day moving average is $45.36. Abbott Laboratories has a one year low of $37.38 and a one year high of $51.13.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period in the prior year, the company earned $0.55 earnings per share. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current year.
The company 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 dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 149.30%.
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Several research analysts have recently commented on the company. UBS AG reiterated a “neutral” rating and set a $41.00 target price on shares of Abbott Laboratories in a research note on Tuesday, April 18th. Jefferies Group LLC reduced their target price on Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, April 18th. Royal Bank Of Canada reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Monday, May 15th. Cowen and Company reiterated an “outperform” rating and set a $48.00 target price on shares of Abbott Laboratories in a research note on Saturday, April 22nd. Finally, TheStreet downgraded Abbott Laboratories from a “b” rating to a “c+” rating in a research note on Thursday, May 18th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $51.93.
In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total transaction 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 $5,357,278.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jared Watkin sold 552 shares of the 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 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. Over the last three months, insiders have sold 218,702 shares of company stock valued at $10,149,733. 0.76% of the stock is owned by corporate insiders.
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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