Dubuque Bank & Trust Co. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 25.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,925 shares of the healthcare product maker’s stock after selling 14,988 shares during the quarter. Dubuque Bank & Trust Co.’s holdings in Abbott Laboratories were worth $3,778,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Buckingham Capital Management Inc. bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $641,000. OLD Dominion Capital Management Inc. raised its stake in shares of Abbott Laboratories by 5.1% during the 4th quarter. OLD Dominion Capital Management Inc. now owns 11,454 shares of the healthcare product maker’s stock worth $828,000 after purchasing an additional 557 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $4,876,000. F3Logic LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $2,820,000. Finally, Institute for Wealth Management LLC. bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $397,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.
Abbott Laboratories stock traded up $0.67 during midday trading on Tuesday, reaching $88.74. The stock had a trading volume of 3,821,428 shares, compared to its average volume of 5,737,352. Abbott Laboratories has a 12 month low of $63.07 and a 12 month high of $88.76. The business has a 50-day moving average of $83.88. The firm has a market cap of $155.11 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.39% and a net margin of 9.36%. The business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period in the previous year, the business posted $0.73 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is presently 44.44%.
A number of equities research analysts have recently commented on ABT shares. Royal Bank of Canada lifted their target price on Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Cowen restated a “buy” rating and issued a $184.00 price objective on shares of Union Pacific in a research note on Thursday, July 18th. Jefferies Financial Group cut Alcoa from a “buy” rating to a “hold” rating and lowered their price objective for the company from $29.00 to $23.00 in a research note on Thursday, July 18th. Raymond James lowered their price objective on SM Energy from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Finally, Morgan Stanley lowered their price objective on Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $85.82.
In other Abbott Laboratories news, insider Hubert L. Allen sold 165,000 shares of Abbott Laboratories stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $85.00, for a total transaction of $14,025,000.00. Following the completion of the transaction, the insider now owns 311,010 shares of the company’s stock, valued at approximately $26,435,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaime Contreras sold 82,732 shares of Abbott Laboratories stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $70.00, for a total value of $5,791,240.00. Following the transaction, the senior vice president now directly owns 80,722 shares of the company’s stock, valued at approximately $5,650,540. The disclosure for this sale can be found here. Insiders have sold a total of 1,142,992 shares of company stock valued at $89,513,951 in the last ninety days. Insiders own 0.70% of the company’s stock.
About Abbott Laboratories
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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