Mycio Wealth Partners LLC Holds Holdings in Abbott Laboratories (ABT)
Mycio Wealth Partners LLC held its stake in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,893 shares of the healthcare product maker’s stock at the close of the 2nd quarter. Mycio Wealth Partners LLC’s holdings in Abbott Laboratories were worth $351,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of ABT. State Street Corp grew its holdings in Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after purchasing an additional 12,806,535 shares during the period. Boston Partners grew its holdings in Abbott Laboratories by 5,663.7% in the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after purchasing an additional 8,069,557 shares during the period. Bank of New York Mellon Corp grew its holdings in Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after purchasing an additional 3,344,508 shares during the period. Ameriprise Financial Inc. grew its holdings in Abbott Laboratories by 33.8% in the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock valued at $391,841,000 after purchasing an additional 2,231,316 shares during the period. Finally, Swiss National Bank grew its holdings in Abbott Laboratories by 45.3% in the first quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock valued at $289,943,000 after purchasing an additional 2,035,170 shares during the period. 70.64% of the stock is currently owned by institutional investors.
ABT has been the topic of several research analyst reports. Cowen and Company reissued a “buy” rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Zacks Investment Research raised 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, September 22nd. BidaskClub downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research report on Friday, July 21st. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $56.81.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the sale, the executive vice president now owns 142,082 shares in the company, valued at $7,986,429.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders sold 211,763 shares of company stock worth $11,476,131 in the last 90 days. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (ABT) opened at $55.01 on Wednesday. Abbott Laboratories has a 1 year low of $37.38 and a 1 year high of $56.69. The company has a market capitalization of $96,255.23, a P/E ratio of 22.95, a P/E/G ratio of 2.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. analysts forecast that Abbott Laboratories will post 2.5 EPS for the current year.
The firm also recently announced 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. The ex-dividend date is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
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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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