Whalerock Point Partners LLC Decreases Holdings in Abbott Laboratories (ABT)
Whalerock Point Partners LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,764 shares of the healthcare product maker’s stock after selling 75 shares during the period. Whalerock Point Partners LLC’s holdings in Abbott Laboratories were worth $231,000 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. Winfield Associates Inc. increased its holdings in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. V Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $127,000. JFS Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. Motco increased its holdings in shares of Abbott Laboratories by 213.7% during the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock valued at $140,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Burt Wealth Advisors increased its holdings in shares of Abbott Laboratories by 14.4% during the 2nd quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock valued at $154,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.
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ABT has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. J P Morgan Chase & Co initiated coverage on shares of Abbott Laboratories in a report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price target for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Cowen and Company set a $68.00 price target on shares of Abbott Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $57.00 target price (up previously from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $56.81.
In related news, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the sale, the insider now directly owns 58,739 shares in the company, valued at $3,052,665.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total transaction of $3,913,635.00. Following the completion of the transaction, the insider now owns 144,955 shares in the company, valued at $7,972,525. The disclosure for this sale can be found here. Insiders have sold 282,920 shares of company stock worth $15,389,766 over the last 90 days. Insiders own 0.76% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) opened at $55.56 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The stock has a market cap of $96,670.00, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.55. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.69.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. sell-side analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were paid a dividend of $0.265 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.91%. Abbott Laboratories’s payout ratio is 87.60%.
Abbott Laboratories 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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