Guyasuta Investment Advisors Inc. continued to hold its stake in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,855 shares of the healthcare product maker’s stock at the close of the 2nd quarter. Guyasuta Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $1,014,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Winfield Associates Inc. increased its stake in Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,094 shares during the last quarter. Motco increased its stake in Abbott Laboratories by 213.7% during the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 1,962 shares during the last quarter. Burt Wealth Advisors increased its stake in Abbott Laboratories by 14.4% during the second quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock worth $154,000 after acquiring an additional 400 shares during the last quarter. Finally, Farmers National Bank increased its stake in Abbott Laboratories by 1.5% during the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after acquiring an additional 52 shares during the last quarter. 69.99% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories (NYSE:ABT) opened at $56.13 on Friday. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $56.69. The stock has a market capitalization of $97,699.93, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. equities research analysts forecast that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is 83.47%.
ABT has been the topic of several analyst reports. Cowen Inc reissued a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, September 24th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Friday, September 22nd. Jefferies Group LLC restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. BidaskClub lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada restated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $56.81.
In related news, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now owns 58,739 shares in the company, valued at $3,052,665.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. Insiders sold 308,939 shares of company stock valued at $16,835,789 in the last quarter. 0.76% of the stock is owned by company insiders.
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About Abbott Laboratories
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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