Freestone Capital Holdings LLC Purchases New Stake in ABB Ltd (ABB)

Freestone Capital Holdings LLC purchased a new position in shares of ABB Ltd (NYSE:ABB) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,682 shares of the industrial products company’s stock, valued at approximately $349,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of ABB during the fourth quarter worth approximately $118,000. Icon Wealth Partners LLC acquired a new stake in shares of ABB during the fourth quarter worth approximately $118,000. Premia Global Advisors LLC acquired a new stake in shares of ABB during the fourth quarter worth approximately $146,000. Smith Moore & CO. acquired a new stake in shares of ABB during the fourth quarter worth approximately $210,000. Finally, First City Capital Management Inc. acquired a new stake in shares of ABB during the fourth quarter worth approximately $212,000. 5.69% of the stock is owned by institutional investors and hedge funds.

ABB stock opened at $23.03 on Friday. The firm has a market capitalization of $49.25 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.15 and a quick ratio of 0.86. ABB Ltd has a 12 month low of $21.92 and a 12 month high of $28.67.



ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, April 19th. The industrial products company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.40 billion. ABB had a net margin of 5.87% and a return on equity of 18.85%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. analysts anticipate that ABB Ltd will post 1.39 earnings per share for the current fiscal year.

ABB has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “sell” rating and set a $23.00 price target on shares of ABB in a research report on Wednesday, March 28th. Deutsche Bank reaffirmed a “buy” rating on shares of ABB in a report on Friday, April 20th. Zacks Investment Research downgraded shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, April 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of ABB in a report on Thursday, May 3rd. Finally, UBS Group raised shares of ABB from a “sell” rating to a “neutral” rating in a report on Tuesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $27.00.

ABB Company Profile

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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