Beaton Management Co. Inc. purchased a new position in Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,976 shares of the healthcare product maker’s stock, valued at approximately $339,000.
A number of other hedge funds have also bought and sold shares of ABT. Tandem Investment Advisors Inc. raised its holdings in shares of Abbott Laboratories by 1.8% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 229,576 shares of the healthcare product maker’s stock worth $11,160,000 after acquiring an additional 4,010 shares in the last quarter. North Star Asset Management Inc. raised its holdings in shares of Abbott Laboratories by 3.5% during the 2nd quarter. North Star Asset Management Inc. now owns 259,999 shares of the healthcare product maker’s stock worth $12,638,000 after acquiring an additional 8,730 shares in the last quarter. Auxier Asset Management raised its holdings in shares of Abbott Laboratories by 0.3% during the 2nd quarter. Auxier Asset Management now owns 108,314 shares of the healthcare product maker’s stock worth $5,265,000 after acquiring an additional 301 shares in the last quarter. GWM Advisors LLC raised its holdings in shares of Abbott Laboratories by 5.4% during the 2nd quarter. GWM Advisors LLC now owns 23,835 shares of the healthcare product maker’s stock worth $1,150,000 after acquiring an additional 1,223 shares in the last quarter. Finally, Koch Industries Inc. raised its holdings in shares of Abbott Laboratories by 9,064.8% during the 2nd quarter. Koch Industries Inc. now owns 616,701 shares of the healthcare product maker’s stock worth $604,000 after acquiring an additional 609,972 shares in the last quarter. Institutional investors and hedge funds own 71.32% of the company’s stock.
In other news, insider Jaime Contreras sold 52,700 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Miles D. White sold 276,886 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the transaction, the chairman now directly owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders sold a total of 588,013 shares of company stock worth $32,023,946 in the last ninety days. 0.76% of the stock is currently owned by corporate insiders.
Abbott Laboratories (NYSE ABT) opened at $55.06 on Thursday. The company has a market capitalization of $96,951.48, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.09 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 has a 12-month low of $37.90 and a 12-month high of $56.69.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. equities research analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
Several brokerages have recently issued reports on ABT. BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $58.00 to $65.00 in a report on Tuesday. Barclays increased their price target on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus increased their price target on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Cowen restated a “buy” rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $57.56.
About Abbott Laboratories
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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