Amalgamated Bank Boosts Position in Abbott Laboratories (ABT)

Amalgamated Bank increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 57.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 191,206 shares of the healthcare product maker’s stock after purchasing an additional 69,871 shares during the quarter. Amalgamated Bank’s holdings in Abbott Laboratories were worth $9,295,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Heritage Trust Co boosted its holdings in shares of Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares during the period. Winfield Associates Inc. boosted its holdings in shares of Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after purchasing an additional 89 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in shares of Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after purchasing an additional 370 shares during the period. JFS Wealth Advisors LLC boosted its holdings in shares of 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 during the period. Finally, Motco boosted its holdings in shares of Abbott Laboratories by 213.7% during the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 1,962 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

In related news, insider Sharon J. Bracken sold 2,188 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the transaction, the insider now owns 25,618 shares of the company’s stock, valued at $1,437,682.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the transaction, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The disclosure for this sale can be found here. In the last three months, insiders sold 311,127 shares of company stock worth $16,958,579. Insiders own 0.76% of the company’s stock.

A number of analysts have issued reports on ABT shares. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. J P Morgan Chase & Co started coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They issued a “neutral” rating and a $60.00 target price for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Cowen set a $68.00 target price on shares of Abbott Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research note on Friday, September 1st. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $56.81.

Abbott Laboratories (NYSE ABT) opened at $54.69 on Friday. Abbott Laboratories has a 52-week low of $37.90 and a 52-week high of $56.69. The company has a market cap of $95,141.25, a P/E ratio of 22.68, a PEG ratio of 2.05 and a beta of 1.06. 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 Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. sell-side analysts forecast that Abbott Laboratories will post 2.49 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is 83.47%.

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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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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