West Oak Capital LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,524 shares of the healthcare product maker’s stock after selling 920 shares during the period. Abbott Laboratories accounts for about 1.2% of West Oak Capital LLC’s investment portfolio, making the stock its 16th largest position. West Oak Capital LLC’s holdings in Abbott Laboratories were worth $2,045,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Rench Wealth Management Inc. lifted its position in Abbott Laboratories by 1.8% during the fourth quarter. Rench Wealth Management Inc. now owns 48,149 shares of the healthcare product maker’s stock valued at $2,748,000 after buying an additional 863 shares in the last quarter. Altium Wealth Management LLC lifted its position in Abbott Laboratories by 18.7% during the first quarter. Altium Wealth Management LLC now owns 5,618 shares of the healthcare product maker’s stock valued at $337,000 after buying an additional 886 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in Abbott Laboratories by 11.2% during the fourth quarter. Rehmann Capital Advisory Group now owns 8,886 shares of the healthcare product maker’s stock valued at $507,000 after buying an additional 892 shares in the last quarter. Tandem Investment Advisors Inc. lifted its position in Abbott Laboratories by 0.3% during the second quarter. Tandem Investment Advisors Inc. now owns 263,225 shares of the healthcare product maker’s stock valued at $16,054,000 after buying an additional 897 shares in the last quarter. Finally, Buckley Wealth Management LLC lifted its position in Abbott Laboratories by 15.6% during the first quarter. Buckley Wealth Management LLC now owns 6,839 shares of the healthcare product maker’s stock valued at $410,000 after buying an additional 923 shares in the last quarter. 71.67% of the stock is currently owned by institutional investors.
ABT opened at $61.33 on Friday. The company has a market cap of $106.61 billion, a PE ratio of 24.53, a PEG ratio of 1.77 and a beta of 1.50. Abbott Laboratories has a 52-week low of $47.83 and a 52-week high of $64.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.66.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share. equities research analysts predict that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.83%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
A number of brokerages have weighed in on ABT. Sanford C. Bernstein began coverage on shares of Abbott Laboratories in a research report on Wednesday, June 27th. They set an “outperform” rating and a $73.00 price target on the stock. Citigroup reduced their price target on shares of Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 24th. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research report on Sunday, April 22nd. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Friday, April 20th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $69.35.
In related news, SVP Sharon J. Bracken sold 2,150 shares of Abbott Laboratories stock in a transaction on Friday, May 4th. The shares were sold at an average price of $58.56, for a total value of $125,904.00. Following the completion of the sale, the senior vice president now owns 43,990 shares in the company, valued at $2,576,054.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Gesua Sive Salvadori sold 3,000 shares of Abbott Laboratories stock in a transaction on Friday, May 18th. The stock was sold at an average price of $61.20, for a total transaction of $183,600.00. Following the completion of the sale, the insider now owns 95,581 shares of the company’s stock, valued at approximately $5,849,557.20. The disclosure for this sale can be found here. Insiders have sold 5,999 shares of company stock worth $359,901 in the last quarter. Insiders own 0.74% of the company’s stock.
Abbott Laboratories 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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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