Smith Salley & Associates reduced its position in Abbott Laboratories (NYSE:ABT) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 122,613 shares of the healthcare product maker’s stock after selling 1,316 shares during the period. Smith Salley & Associates’ holdings in Abbott Laboratories were worth $5,445,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Cypress Capital Management LLC WY boosted 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 worth $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of Abbott Laboratories during the first quarter worth about $112,000. First Command Financial Services Inc. boosted its position in shares of 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 worth $124,000 after buying an additional 257 shares during the period. Atwood & Palmer Inc. boosted its position in shares of Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after buying an additional 2,000 shares during the period. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of Abbott Laboratories by 9.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after buying an additional 292 shares during the period. Institutional investors own 70.86% of the company’s stock.
Shares of Abbott Laboratories (ABT) traded down 1.12% during midday trading on Friday, hitting $48.74. 4,810,807 shares of the stock traded hands. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13. The company has a market cap of $84.68 billion, a price-to-earnings ratio of 68.26 and a beta of 1.07. The stock has a 50-day moving average of $49.15 and a 200-day moving average of $45.95.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The firm’s revenue was up 24.5% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were given a $0.265 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.17%. Abbott Laboratories’s dividend payout ratio (DPR) is 149.30%.
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A number of research analysts have recently issued reports on ABT shares. TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Royal Bank Of Canada restated a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Jefferies Group LLC restated a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Abbott Laboratories in a report on Friday, May 12th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, May 16th. Finally, Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $52.14.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,188,448. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jared Watkin sold 552 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the transaction, the insider now owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,252 shares of company stock valued at $19,878,958. 0.76% of the stock is owned by 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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