Edmond DE Rothschild Holding S.A. cut its holdings in Abbott Laboratories (NYSE:ABT) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 150,454 shares of the healthcare product maker’s stock after selling 6,770 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Abbott Laboratories were worth $17,443,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in ABT. 4Thought Financial Group Inc. bought a new position in Abbott Laboratories in the 2nd quarter valued at approximately $25,000. Holloway Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 150.0% during the 2nd quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock valued at $29,000 after buying an additional 150 shares during the period. Sierra Capital LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at $30,000. CKW Financial Group bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at $36,000. Finally, Isthmus Partners LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at $36,000. 72.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Abbott Laboratories stock traded up $1.71 during trading on Tuesday, reaching $126.58. 6,856 shares of the stock traded hands, compared to its average volume of 5,387,660. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36. Abbott Laboratories has a 52-week low of $100.34 and a 52-week high of $129.70. The business has a fifty day simple moving average of $123.65 and a two-hundred day simple moving average of $119.49. The company has a market capitalization of $224.40 billion, a price-to-earnings ratio of 35.17, a P/E/G ratio of 2.45 and a beta of 0.66.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Friday, October 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, October 14th. Abbott Laboratories’s payout ratio is 49.32%.
In other Abbott Laboratories news, SVP Michael D. Dale sold 17,600 shares of the firm’s stock in a transaction dated Wednesday, July 28th. The shares were sold at an average price of $120.33, for a total value of $2,117,808.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Pederson sold 23,008 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $129.05, for a total transaction of $2,969,182.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 222,883 shares of company stock valued at $27,964,400. 1.50% of the stock is owned by insiders.
Several equities analysts have recently weighed in on the company. Credit Suisse Group increased their price target on Abbott Laboratories from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. BTIG Research raised their target price on Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Wells Fargo & Company raised their target price on Abbott Laboratories from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, July 12th. Barclays decreased their target price on Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, June 2nd. Finally, Cowen raised their target price on Abbott Laboratories from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, August 23rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $128.93.
About Abbott Laboratories
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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