Abbott Laboratories (ABT) Stake Boosted by Baystate Wealth Management LLC
Baystate Wealth Management LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,076 shares of the healthcare product maker’s stock after buying an additional 216 shares during the period. Baystate Wealth Management LLC’s holdings in Abbott Laboratories were worth $199,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in ABT. Boltwood Capital Management increased its stake in shares of Abbott Laboratories by 116.6% in the first quarter. Boltwood Capital Management now owns 24,702 shares of the healthcare product maker’s stock valued at $1,097,000 after buying an additional 13,297 shares during the period. Hills Bank & Trust Co. increased its stake in shares of Abbott Laboratories by 26.7% in the first quarter. Hills Bank & Trust Co. now owns 16,071 shares of the healthcare product maker’s stock valued at $714,000 after buying an additional 3,382 shares during the period. Indiana Trust & Investment Management CO increased its stake in shares of Abbott Laboratories by 10.0% in the first quarter. Indiana Trust & Investment Management CO now owns 20,686 shares of the healthcare product maker’s stock valued at $919,000 after buying an additional 1,880 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Abbott Laboratories during the first quarter valued at about $250,000. Finally, Osborn Williams & Donohoe LLC increased its stake in shares of Abbott Laboratories by 0.8% in the first quarter. Osborn Williams & Donohoe LLC now owns 136,988 shares of the healthcare product maker’s stock valued at $6,083,000 after buying an additional 1,046 shares during the period. Institutional investors own 70.86% of the company’s stock.
Shares of Abbott Laboratories (NYSE ABT) traded up 1.99% on Wednesday, reaching $49.79. The company had a trading volume of 2,740,165 shares. The stock has a 50-day moving average price of $49.09 and a 200-day moving average price of $45.85. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13. The stock has a market cap of $86.51 billion, a PE ratio of 69.73 and a beta of 1.07.
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 analysts’ consensus estimates 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 previous year, the company posted $0.55 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
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ABT has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $49.00 price target on shares of Abbott Laboratories in a report on Tuesday, April 18th. Jefferies Group LLC lowered 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. UBS AG restated a “neutral” rating and issued a $41.00 price target on shares of Abbott Laboratories in a report on Tuesday, April 18th. Morgan Stanley restated an “equal weight” rating and issued a $42.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 19th. Finally, Barclays PLC increased their price target on Abbott Laboratories from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $52.08.
In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of the business’s stock in a transaction that occurred 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jared Watkin sold 552 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the sale, 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 have sold a total of 218,702 shares of company stock valued at $10,149,733 over the last three months. 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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