Coho Partners Ltd. grew its holdings in Abbott Laboratories (NYSE:ABT) by 26.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,733,067 shares of the healthcare product maker’s stock after buying an additional 791,633 shares during the period. Abbott Laboratories accounts for approximately 4.5% of Coho Partners Ltd.’s portfolio, making the stock its 5th largest position. Coho Partners Ltd. owned about 0.22% of Abbott Laboratories worth $181,464,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Winfield Associates Inc. raised its holdings in shares of Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares during the last quarter. V Wealth Management LLC purchased a new position in Abbott Laboratories during the second quarter worth about $127,000. JFS Wealth Advisors LLC raised its holdings in Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,094 shares in the last quarter. Burt Wealth Advisors raised its holdings in Abbott Laboratories by 14.4% during the second quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock worth $154,000 after purchasing an additional 400 shares in the last quarter. Finally, Farmers National Bank raised its holdings in Abbott Laboratories by 1.5% during the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after purchasing an additional 52 shares in the last quarter. 70.64% of the stock is owned by institutional investors and hedge funds.
ABT has been the subject of several 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 shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, September 22nd. BidaskClub cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a report on Friday, July 21st. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $56.81.
Shares of Abbott Laboratories (NYSE ABT) opened at $54.80 on Monday. The company has a market cap of $95,384.93, a P/E ratio of 22.74, a PEG ratio of 2.05 and a beta of 1.06. Abbott Laboratories has a 1 year low of $37.38 and a 1 year high of $56.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The business 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 company’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 earnings per share. sell-side analysts predict that Abbott Laboratories will post 2.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders 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 annualized dividend and a dividend yield of 1.93%. Abbott Laboratories’s dividend payout ratio is presently 83.47%.
In related news, insider Jaime Contreras sold 52,700 shares of the firm’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 owns 58,739 shares in the company, valued at $3,052,665.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’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 owns 221,488 shares in the company, valued at approximately $10,963,656. The disclosure for this sale can be found here. Insiders sold 408,313 shares of company stock worth $21,205,356 over the last quarter. Company insiders own 0.76% of the company’s stock.
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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