Abbott Laboratories (ABT) Holdings Boosted by A. D. Beadell Investment Counsel Inc.
A. D. Beadell Investment Counsel Inc. boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,065 shares of the healthcare product maker’s stock after buying an additional 1 shares during the quarter. Abbott Laboratories makes up approximately 2.0% of A. D. Beadell Investment Counsel Inc.’s investment portfolio, making the stock its 13th largest position. A. D. Beadell Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $2,482,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cypress Capital Management LLC WY boosted its holdings in shares of Abbott Laboratories by 37.9% during the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after acquiring an additional 696 shares during the period. Feltz Wealth PLAN Inc. bought a new stake in shares of Abbott Laboratories during the first quarter worth approximately $112,000. V Wealth Management LLC bought a new stake in shares of Abbott Laboratories during the second quarter worth approximately $127,000. Atwood & Palmer Inc. boosted its holdings in shares of Abbott Laboratories by 157.5% during the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after acquiring an additional 2,000 shares during the period. Finally, Independent Portfolio Consultants Inc. boosted its holdings in shares of Abbott Laboratories by 9.3% during the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after acquiring an additional 292 shares during the period. 71.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the company. Citigroup Inc. assumed coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price objective for the company. Cowen and Company restated a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 17th. BMO Capital Markets restated a “hold” rating and set a $53.00 price objective on shares of Abbott Laboratories in a report on Friday, September 1st. BidaskClub cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Finally, Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $52.50.
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In related news, insider Sharon J. Bracken sold 2,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the insider now directly owns 28,806 shares in the company, valued at approximately $1,416,102.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Blaser sold 15,000 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the completion of the transaction, the insider now owns 143,154 shares of the company’s stock, valued at $7,157,700. The disclosure for this sale can be found here. Insiders sold a total of 218,150 shares of company stock valued at $10,811,179 over the last quarter. 0.76% of the stock is owned by company insiders.
Shares of Abbott Laboratories (ABT) traded down 0.594% during midday trading on Thursday, hitting $51.691. The company had a trading volume of 2,776,080 shares. The company’s 50-day moving average price is $49.89 and its 200 day moving average price is $46.81. The company has a market capitalization of $89.81 billion, a price-to-earnings ratio of 72.396 and a beta of 1.06. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $52.60.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the business posted $0.55 EPS. Abbott Laboratories’s quarterly revenue was up 24.5% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
About Abbott Laboratories
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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