Abbott Laboratories (ABT) Shares Bought by Johanson Financial Advisors Inc.
Johanson Financial Advisors Inc. raised its holdings in Abbott Laboratories (NYSE:ABT) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,017 shares of the healthcare product maker’s stock after acquiring an additional 37 shares during the quarter. Johanson Financial Advisors Inc.’s holdings in Abbott Laboratories were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Atwood & Palmer Inc. lifted its holdings in Abbott Laboratories by 157.5% in the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after acquiring an additional 2,000 shares during the last quarter. Independent Portfolio Consultants Inc. raised its holdings in Abbott Laboratories by 9.3% during the 1st quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after buying an additional 292 shares during the period. Farmers National Bank raised its holdings in Abbott Laboratories by 1.5% during the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after buying an additional 52 shares during the period. Advantage Investment Management LLC raised its holdings in Abbott Laboratories by 17.3% during the 1st quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock worth $163,000 after buying an additional 543 shares during the period. Finally, Delta Asset Management LLC TN raised its holdings in Abbott Laboratories by 1.3% during the 1st quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 51 shares during the period. 71.50% of the stock is owned by institutional investors.
In related news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $233,634.00. Following the transaction, the insider now directly owns 105,479 shares in the company, valued at $5,357,278.41. The disclosure for this sale can be found here. Insiders have sold a total of 218,150 shares of company stock worth $10,811,179 over the last three months. 0.76% of the stock is owned by insiders.
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Several research firms have issued reports on ABT. Citigroup Inc. began coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Friday, June 16th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday. BTIG Research began coverage on Abbott Laboratories in a report on Wednesday, June 21st. They set a “buy” rating and a $56.00 price objective on the stock. Finally, Cowen and Company restated a “buy” rating on shares of Abbott Laboratories in a report on Sunday. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $52.71.
Abbott Laboratories (ABT) traded up 2.10% during midday trading on Friday, hitting $52.51. The stock had a trading volume of 7,978,960 shares. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $52.60. The firm has a market capitalization of $91.23 billion, a price-to-earnings ratio of 73.54 and a beta of 1.06. The firm has a 50-day moving average price of $50.14 and a 200-day moving average price of $47.04.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s payout ratio is presently 149.30%.
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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