Abbott Laboratories (ABT) Position Reduced by Two Sigma Securities LLC
Two Sigma Securities LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 26.8% during the first quarter, Holdings Channel reports. The firm owned 16,406 shares of the healthcare product maker’s stock after selling 6,003 shares during the period. Two Sigma Securities LLC’s holdings in Abbott Laboratories were worth $729,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in ABT. MEMBERS Trust Co purchased a new stake in shares of Abbott Laboratories during the first quarter valued at about $270,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Abbott Laboratories during the first quarter valued at about $16,883,000. Oppenheimer & Co. Inc. increased its stake in shares of Abbott Laboratories by 3.5% in the first quarter. Oppenheimer & Co. Inc. now owns 129,642 shares of the healthcare product maker’s stock valued at $5,757,000 after buying an additional 4,427 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Abbott Laboratories by 22.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 5,430,803 shares of the healthcare product maker’s stock valued at $241,182,000 after buying an additional 1,008,733 shares during the period. Finally, Brown Advisory Securities LLC increased its stake in shares of Abbott Laboratories by 8.1% in the first quarter. Brown Advisory Securities LLC now owns 39,474 shares of the healthcare product maker’s stock valued at $1,754,000 after buying an additional 2,963 shares during the period. 70.98% of the stock is currently owned by institutional investors.
Shares of Abbott Laboratories (ABT) traded up 1.17% during midday trading on Friday, reaching $48.62. 1,186,867 shares of the company were exchanged. The company has a market capitalization of $84.47 billion, a P/E ratio of 68.10 and a beta of 1.07. The stock has a 50-day moving average price of $49.11 and a 200 day moving average price of $45.59. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13.
Abbott Laboratories (NYSE:ABT) last announced its 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. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities research analysts expect that Abbott Laboratories will post $2.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors 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 dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s payout ratio is 149.30%.
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Several analysts have issued reports on the stock. BidaskClub downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Jefferies Group LLC reissued a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Barclays PLC reissued an “overweight” rating and set a $57.00 target price (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Friday, July 21st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $51.93.
In related news, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the sale, the insider now owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The disclosure for this sale can be found here. Insiders have sold a total of 218,702 shares of company stock valued at $10,149,733 in the last ninety days. 0.76% of the stock is currently owned by 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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