Abbott Laboratories (ABT) Position Boosted by Martin & Co. Inc. TN
Martin & Co. Inc. TN increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 31,792 shares of the healthcare product maker’s stock after purchasing an additional 945 shares during the quarter. Martin & Co. Inc. TN’s holdings in Abbott Laboratories were worth $1,939,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Rainier Group Investment Advisory LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth about $114,000. FNY Investment Advisers LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth about $118,000. Fort L.P. purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth about $119,000. Security National Bank of SO Dak raised its holdings in shares of Abbott Laboratories by 72.0% in the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock worth $128,000 after purchasing an additional 878 shares during the period. Finally, Private Ocean LLC raised its holdings in shares of Abbott Laboratories by 9,868.2% in the 1st quarter. Private Ocean LLC now owns 2,193 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,171 shares during the period. Institutional investors own 72.48% of the company’s stock.
In other Abbott Laboratories news, insider Sharon J. Bracken sold 615 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $65.16, for a total transaction of $40,073.40. Following the completion of the sale, the insider now owns 40,761 shares in the company, valued at approximately $2,655,986.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jaime Contreras sold 64,268 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total value of $4,295,673.12. Following the sale, the senior vice president now owns 125,471 shares of the company’s stock, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,389 shares of company stock valued at $5,995,012. 0.74% of the stock is owned by insiders.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same period last year, the business posted $0.62 EPS. The company’s revenue was up 17.0% on a year-over-year basis. equities analysts forecast that Abbott Laboratories will post 2.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.64%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.
A number of equities analysts have recently commented on ABT shares. Sanford C. Bernstein started coverage on Abbott Laboratories in a report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price objective on the stock. Stifel Nicolaus raised their price objective on Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, July 19th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Thursday, July 19th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $70.00 price objective on shares of Abbott Laboratories in a report on Thursday, July 19th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $69.88.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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