Stock Yards Bank & Trust Co. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 211,543 shares of the healthcare product maker’s stock after purchasing an additional 15,698 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Abbott Laboratories were worth $10,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in ABT. Cypress Capital Management LLC WY lifted its position in Abbott Laboratories by 37.9% during 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 purchasing an additional 696 shares during the last quarter. Trust Department MB Financial Bank N A lifted its position in Abbott Laboratories by 1.1% during the first quarter. Trust Department MB Financial Bank N A now owns 29,783 shares of the healthcare product maker’s stock valued at $1,322,000 after purchasing an additional 320 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new stake in Abbott Laboratories during the first quarter valued at approximately $112,000. Courier Capital LLC lifted its position in Abbott Laboratories by 8.0% during the first quarter. Courier Capital LLC now owns 30,800 shares of the healthcare product maker’s stock valued at $1,368,000 after purchasing an additional 2,293 shares during the last quarter. Finally, Granite Investment Advisors LLC lifted its position in Abbott Laboratories by 298.6% during the first quarter. Granite Investment Advisors LLC now owns 351,289 shares of the healthcare product maker’s stock valued at $15,601,000 after purchasing an additional 263,159 shares during the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.
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In other news, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 221,488 shares in the company, valued at $10,963,656. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the transaction, the insider now owns 28,806 shares in the company, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,150 shares of company stock valued at $10,811,179. Corporate insiders own 0.76% of the company’s stock.
Several equities research analysts have issued reports on ABT shares. Wells Fargo & Company reiterated an “outperform” rating and set a $54.00 target price (up from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Barclays PLC reiterated an “overweight” rating and set a $57.00 target price (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. BMO Capital Markets reiterated a “hold” rating and set a $48.00 target price on shares of Abbott Laboratories in a research report on Tuesday, July 11th. Finally, Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.50.
Shares of Abbott Laboratories (ABT) traded up 0.35% on Monday, hitting $51.94. 1,121,759 shares of the company traded hands. The firm’s 50 day moving average price is $50.01 and its 200-day moving average price is $46.93. The stock has a market capitalization of $90.24 billion, a price-to-earnings ratio of 72.75 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $52.60.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period last year, the company earned $0.55 earnings per share. Abbott Laboratories’s revenue was up 24.5% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post $2.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.04%. Abbott Laboratories’s dividend payout ratio (DPR) is 149.30%.
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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