Alpha Omega Wealth Management LLC maintained its position in Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,754 shares of the healthcare product maker’s stock at the end of the second quarter. Alpha Omega Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,301,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Winfield Associates Inc. lifted its position in Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares during the last quarter. V Wealth Management LLC acquired a new position in Abbott Laboratories in the second quarter valued at about $127,000. JFS Wealth Advisors LLC lifted its position in Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares during the last quarter. Burt Wealth Advisors lifted its position in Abbott Laboratories by 14.4% in the second quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock valued at $154,000 after buying an additional 400 shares during the last quarter. Finally, Lee Financial Co lifted its position in Abbott Laboratories by 1.7% in the second quarter. Lee Financial Co now owns 3,388 shares of the healthcare product maker’s stock valued at $165,000 after buying an additional 57 shares during the last quarter. 71.39% of the stock is currently owned by institutional investors.
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A number of brokerages have issued reports on ABT. Royal Bank of Canada reiterated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, October 16th. Bank of America Corporation reiterated a “buy” rating and set a $60.00 price target (up from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. Barclays PLC reiterated an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $56.81.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the transaction, the insider now directly owns 221,488 shares in the company, valued at $10,963,656. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 58,739 shares in the company, valued at $3,052,665.83. The disclosure for this sale can be found here. Insiders sold 408,313 shares of company stock worth $21,205,356 over the last quarter. 0.76% of the stock is currently owned by insiders.
Abbott Laboratories (NYSE ABT) opened at $54.80 on Friday. The company has a market cap of $95,384.93, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.69. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm’s revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. equities research analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a $0.265 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
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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