Nwam LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 13.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,999 shares of the healthcare product maker’s stock after selling 1,895 shares during the period. Nwam LLC’s holdings in Abbott Laboratories were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC lifted its holdings in shares of Abbott Laboratories by 278.4% in the 3rd quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock worth $40,000 after purchasing an additional 270 shares during the last quarter. RPG Investment Advisory LLC raised its stake in Abbott Laboratories by 113.4% during the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 203 shares in the last quarter. Bay Harbor Wealth Management LLC raised its stake in Abbott Laboratories by 159.9% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock valued at $41,000 after acquiring an additional 275 shares in the last quarter. Islay Capital Management LLC bought a new stake in Abbott Laboratories during the 2nd quarter valued at $46,000. Finally, Arlington Partners LLC raised its stake in Abbott Laboratories by 1,187.8% during the 2nd quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock valued at $48,000 after acquiring an additional 487 shares in the last quarter. 73.09% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. Wolfe Research assumed coverage on Abbott Laboratories in a research note on Friday, September 11th. They set an “outperform” rating and a $124.00 target price on the stock. SVB Leerink boosted their price objective on Abbott Laboratories from $97.00 to $110.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Argus boosted their price objective on Abbott Laboratories from $110.00 to $125.00 in a research note on Thursday, July 23rd. Goldman Sachs Group set a $94.00 price objective on Abbott Laboratories and gave the stock a “sell” rating in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $114.44.
In related news, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of Abbott Laboratories stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the completion of the sale, the executive vice president now owns 144,912 shares of the company’s stock, valued at $16,209,856.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $98.00, for a total value of $2,254,784.00. Following the sale, the senior vice president now directly owns 96,899 shares of the company’s stock, valued at approximately $9,496,102. The disclosure for this sale can be found here. Insiders have sold 114,771 shares of company stock worth $12,220,943 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.
Shares of ABT stock traded up $2.35 on Friday, reaching $109.67. 4,363,766 shares of the company’s stock traded hands, compared to its average volume of 7,182,726. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $114.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. The company has a market capitalization of $194.17 billion, a P/E ratio of 63.39, a price-to-earnings-growth ratio of 3.06 and a beta of 0.92. The business’s 50 day moving average price is $106.58 and its two-hundred day moving average price is $96.39.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The business had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. Abbott Laboratories’s revenue for the quarter was down 8.2% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 3.3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, October 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.31%. Abbott Laboratories’s dividend payout ratio is 44.44%.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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