AdvisorNet Financial Inc increased its holdings in shares of Abbott Laboratories (NYSE: ABT – Get Rating) by 21.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,056 shares of the healthcare product maker’s stock after purchasing an additional 8,331 shares during the quarter. AdvisorNet Financial Inc’s holdings in Abbott Laboratories were worth $ 5,688,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. New World Advisors LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $ 477,000. Garde Capital Inc. grew its stake in Abbott Laboratories by 34.6% during the third quarter. Garde Capital Inc. now owns 2,058 shares of the healthcare product maker’s stock valued at $ 243,000 after acquiring an additional 529 shares in the last quarter. Wealthsource Partners LLC increased its holdings in Abbott Laboratories by 19.1% in the 3rd quarter. Wealthsource Partners LLC now owns 12,933 shares of the healthcare product maker’s stock valued at $ 1,528,000 after acquiring an additional 2,074 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in Abbott Laboratories by 1.3% in the 3rd quarter. Personal CFO Solutions LLC now owns 20,637 shares of the healthcare product maker’s stock worth $ 2,438,000 after purchasing an additional 264 shares in the last quarter. Finally, CFS Investment Advisory Services LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $ 2,362,000. 73.46% of the stock is currently owned by institutional investors.
Shares of NYSE ABT opened at $ 109.45 on Friday. The company has a market cap of $ 191.64 billion, a P / E ratio of 25.39, a PEG ratio of 3.84 and a beta of 0.73. The firm has a 50-day simple moving average of $ 112.55 and a two-hundred day simple moving average of $ 121.30. Abbott Laboratories has a 1 year low of $ 101.24 and a 1 year high of $ 142.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.40.
Abbott Laboratories (NYSE: ABT – Get Rating) last issued its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $ 1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 1.47 by $ 0.26. The firm had revenue of $ 11.90 billion during the quarter, compared to analyst estimates of $ 11 billion. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. Abbott Laboratories’ s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $ 1.32 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 4.84 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be issued a $ 0.47 dividend. This represents a $ 1.88 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, July 14th. Abbott Laboratories’s payout ratio is presently 43.62%.
A number of equities research analysts recently commented on the company. Morgan Stanley decreased their target price on Abbott Laboratories from $ 151.00 to $ 145.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 7th. Royal Bank of Canada lowered their target price on Abbott Laboratories from $ 146.00 to $ 143.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Raymond James cut their target price on shares of Abbott Laboratories from $ 143.00 to $ 135.00 and set an “outperform” rating for the company in a report on Thursday, April 21st. BTIG Research decreased their price target on shares of Abbott Laboratories from $ 140.00 to $ 130.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Bank of America initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, March 1st. They issued a “buy” rating and a $ 140.00 objective price for the company. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $ 139.64.
In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the company stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $ 113.22, for a total value of $ 5,661,000.00. Following the completion of the sale, the director now directly owns 6,973,500 shares in the company, valued at approximately $ 789,539,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Randel William Woodgrift sold 24,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $ 113.00, for a total value of $ 2,712,000.00. Following the transaction, the senior vice president now owns 47,854 shares in the company, valued at approximately $ 5,407,502. The disclosure for this sale can be found here. Company insiders own 0.52% of the company stock.
About Abbott Laboratories: (Get Rating)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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