Aviance Capital Partners LLC Continues to Hold Holdings in Abbott Laboratories (ABT)
Aviance Capital Partners LLC continued to hold its stake in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,169 shares of the healthcare product maker’s stock at the end of the second quarter. Aviance Capital Partners LLC’s holdings in Abbott Laboratories were worth $1,612,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cypress Capital Management LLC WY raised its position in 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 valued at $112,000 after purchasing an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. acquired a new position in Abbott Laboratories during the first quarter valued at approximately $112,000. V Wealth Management LLC acquired a new position in Abbott Laboratories during the second quarter valued at approximately $127,000. Atwood & Palmer Inc. raised its position in Abbott Laboratories by 157.5% during the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. raised its position in 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 valued at $152,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.
Shares of Abbott Laboratories (NYSE ABT) traded up 0.14% during mid-day trading on Friday, reaching $51.76. 6,699,659 shares of the company’s stock were exchanged. The stock has a market cap of $89.93 billion, a PE ratio of 80.88 and a beta of 1.06. The company has a 50 day moving average price of $50.01 and a 200-day moving average price of $46.93. Abbott Laboratories has a one year low of $37.38 and a one year high of $52.60.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s payout ratio is 149.30%.
Several research analysts have recently issued reports on ABT shares. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Guggenheim started coverage on shares of Abbott Laboratories in a report on Thursday, June 29th. They set a “buy” rating and a $58.00 price target for the company. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, June 21st. BTIG Research started coverage on shares of Abbott Laboratories in a report on Wednesday, June 21st. They set a “buy” rating and a $56.00 price target for the company. Finally, Stifel Nicolaus upped their price target on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $52.50.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the transaction, the insider now owns 221,488 shares in the company, valued at $10,963,656. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $7,157,700. The disclosure for this sale can be found here. Insiders sold 218,150 shares of company stock worth $10,811,179 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.
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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