St. Louis Trust Co Grows Stake in Abbott Laboratories (ABT)
St. Louis Trust Co raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,904 shares of the healthcare product maker’s stock after buying an additional 20 shares during the quarter. St. Louis Trust Co’s holdings in Abbott Laboratories were worth $238,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Waldron LP boosted its stake in Abbott Laboratories by 41.0% during the first quarter. Waldron LP now owns 10,042 shares of the healthcare product maker’s stock worth $442,000 after buying an additional 2,922 shares during the period. Supplemental Annuity Collective Trust of NJ purchased a new position in Abbott Laboratories during the first quarter worth about $928,000. Paragon Capital Management Ltd purchased a new position in Abbott Laboratories during the first quarter worth about $414,000. Parsec Financial Management Inc. boosted its stake in Abbott Laboratories by 85.1% during the first quarter. Parsec Financial Management Inc. now owns 237,920 shares of the healthcare product maker’s stock worth $10,566,000 after buying an additional 109,373 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in Abbott Laboratories by 99.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 1,624,850 shares of the healthcare product maker’s stock worth $72,160,000 after buying an additional 808,850 shares during the period. 71.45% of the stock is owned by institutional investors and hedge funds.
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Abbott Laboratories (NYSE ABT) opened at 54.65 on Monday. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $55.43. The stock has a market capitalization of $94.95 billion, a price-to-earnings ratio of 76.54 and a beta of 1.06. The stock’s 50 day moving average is $52.59 and its 200-day moving average is $48.17.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business 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 revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. On average, equities research analysts expect that Abbott Laboratories will post $2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
In related news, insider Stephen R. Fussell sold 196,550 shares of the company’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 sale, 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 filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Blaser sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total value of $750,000.00. Following the sale, the insider now directly owns 143,154 shares in the company, valued at $7,157,700. The disclosure for this sale can be found here. Over the last three months, insiders have sold 333,310 shares of company stock worth $16,857,255. Corporate insiders own 0.76% of the company’s stock.
Several research analysts have weighed in on ABT shares. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. BidaskClub lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Guggenheim assumed coverage on shares of Abbott Laboratories in a research note on Thursday, June 29th. They set a “buy” rating and a $58.00 target price for the company. Finally, BTIG Research assumed coverage on shares of Abbott Laboratories in a research report on Wednesday, June 21st. They set a “buy” rating and a $56.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.94.
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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