DORCHESTER WEALTH MANAGEMENT Co maintained its position in Abbott Laboratories (NYSE:ABT) during the second quarter, Holdings Channel reports. The fund owned 5,300 shares of the healthcare product maker’s stock at the end of the second quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Abbott Laboratories were worth $258,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY increased its position in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares during the period. Feltz Wealth PLAN Inc. bought a new position in Abbott Laboratories during the first quarter valued at approximately $112,000. V Wealth Management LLC bought a new position in Abbott Laboratories during the second quarter valued at approximately $127,000. First Command Financial Services Inc. increased its position in Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares during the period. Finally, Atwood & Palmer Inc. increased its position in Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after buying an additional 2,000 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories (NYSE:ABT) traded down 1.12% on Friday, reaching $48.74. 4,810,807 shares of the company’s stock were exchanged. The firm has a market cap of $84.68 billion, a PE ratio of 68.26 and a beta of 1.07. Abbott Laboratories has a one year low of $37.38 and a one year high of $51.13. The firm has a 50 day moving average price of $49.15 and a 200 day moving average price of $45.95.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. On average, equities analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.17%. The ex-dividend date was Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
Several equities research analysts recently weighed in on the stock. Cowen and Company restated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research report on Thursday. Citigroup Inc. assumed coverage on shares of Abbott Laboratories in a research report on Thursday. They issued a “neutral” rating and a $53.00 price target on the stock. BidaskClub cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Guggenheim assumed coverage on shares of Abbott Laboratories in a research report on Thursday, June 29th. They issued a “buy” rating and a $58.00 price target on the stock. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $52.14.
In other news, insider Jared Watkin sold 552 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Hubert L. Allen sold 4,600 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the transaction, the insider now directly owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,252 shares of company stock valued at $19,878,958. 0.76% of the stock is currently owned by corporate insiders.
Abbott Laboratories Company 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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