Great West Life Assurance Co. Can reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,745,517 shares of the healthcare product maker’s stock after selling 32,972 shares during the period. Great West Life Assurance Co. Can owned about 0.10% of Abbott Laboratories worth $84,729,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. V Wealth Management LLC acquired a new stake in Abbott Laboratories in the second quarter worth $127,000. 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 worth $145,000 after buying an additional 2,000 shares during the period. Farmers National Bank increased its position in Abbott Laboratories by 1.5% in the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after buying an additional 52 shares during the period. Advantage Investment Management LLC increased its position in Abbott Laboratories by 17.3% in the first quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock worth $163,000 after buying an additional 543 shares during the period. Finally, Delta Asset Management LLC TN increased its position in Abbott Laboratories by 1.3% in the first quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 51 shares during the period. 71.45% of the stock is currently owned by institutional investors and hedge funds.
ABT has been the topic of several analyst reports. BTIG Research initiated coverage on Abbott Laboratories in a research report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 target price on the stock. Guggenheim began coverage on Abbott Laboratories in a research report on Thursday, June 29th. They issued a “buy” rating and a $58.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, June 29th. Wells Fargo & Company reissued an “outperform” rating and set a $54.00 price target (up from $47.50) on shares of Abbott Laboratories in a report on Friday, June 30th. Finally, TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $54.94.
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Abbott Laboratories (NYSE ABT) opened at 54.47 on Tuesday. The firm has a market cap of $94.64 billion, a price-to-earnings ratio of 76.29 and a beta of 1.06. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $55.43. The company has a 50 day moving average price of $52.59 and a 200-day moving average price of $48.17.
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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. Abbott Laboratories’s revenue was up 24.5% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 149.30%.
In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the completion of the sale, the insider now directly owns 58,739 shares in the company, valued at $3,052,665.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the transaction, the insider now directly owns 113,426 shares of the company’s stock, valued at $6,005,906.70. The disclosure for this sale can be found here. Insiders have sold a total of 333,310 shares of company stock valued at $16,857,255 over the last 90 days. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories 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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