First Wilshire Securities Management Inc. Purchases New Position in Abbott Laboratories (ABT)
First Wilshire Securities Management Inc. purchased a new position in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,568 shares of the healthcare product maker’s stock, valued at approximately $203,000.
A number of other institutional investors have also recently modified their holdings of the stock. Kidder Stephen W raised its position in shares of Abbott Laboratories by 1.8% in the first quarter. Kidder Stephen W now owns 137,780 shares of the healthcare product maker’s stock worth $6,120,000 after buying an additional 2,445 shares during the last quarter. Signaturefd LLC raised its position in shares of Abbott Laboratories by 128.0% in the first quarter. Signaturefd LLC now owns 15,417 shares of the healthcare product maker’s stock worth $685,000 after buying an additional 8,656 shares during the last quarter. State Street Corp raised its position in shares of Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after buying an additional 12,806,535 shares during the last quarter. MEMBERS Trust Co purchased a new position in shares of Abbott Laboratories during the first quarter worth about $270,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Abbott Laboratories during the first quarter worth about $16,883,000. 70.98% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories (NYSE:ABT) traded up 1.00% during mid-day trading on Friday, hitting $48.54. The stock had a trading volume of 3,978,902 shares. The company has a market cap of $84.34 billion, a P/E ratio of 67.98 and a beta of 1.07. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $51.13. The company has a 50-day moving average price of $49.09 and a 200 day moving average price of $45.65.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Equities research analysts forecast that Abbott Laboratories will post $2.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s payout ratio is 149.30%.
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A number of brokerages have issued reports on ABT. BidaskClub lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Barclays PLC reaffirmed an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 price target 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 assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $51.93.
In other news, insider Jared Watkin sold 552 shares of the business’s 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 owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 quarter. Corporate 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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