SeaCrest Wealth Management LLC boosted its stake in shares of ABB Ltd (NYSE:ABB) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,246 shares of the industrial products company’s stock after buying an additional 651 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in ABB were worth $265,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cornerstone Advisors Inc. boosted its position in ABB by 76.4% during the first quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 602 shares during the period. Bremer Bank National Association bought a new position in ABB during the first quarter worth about $29,000. Institutional & Family Asset Management LLC bought a new position in ABB during the first quarter worth about $35,000. Osborn Williams & Donohoe LLC bought a new position in ABB during the first quarter worth about $45,000. Finally, Lindbrook Capital LLC boosted its position in ABB by 20.5% during the first quarter. Lindbrook Capital LLC now owns 3,048 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 518 shares during the period. Institutional investors own 4.64% of the company’s stock.
A number of equities research analysts have recently issued reports on ABB shares. UBS Group reissued a “hold” rating and issued a $20.50 price target on shares of ABB in a report on Thursday, July 25th. Royal Bank of Canada reissued a “hold” rating and issued a $21.00 price target on shares of ABB in a report on Thursday, July 25th. JPMorgan Chase & Co. reissued a “sell” rating and issued a $18.00 price target on shares of ABB in a report on Monday, July 15th. Morgan Stanley reissued a “hold” rating and issued a $20.10 price target on shares of ABB in a report on Friday, July 26th. Finally, Societe Generale downgraded shares of ABB from a “buy” rating to a “hold” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. ABB has an average rating of “Hold” and a consensus price target of $20.37.
Shares of ABB stock traded up $0.15 on Friday, reaching $18.63. The stock had a trading volume of 2,945,204 shares, compared to its average volume of 2,615,440. ABB Ltd has a 1 year low of $18.05 and a 1 year high of $24.45. The stock has a market capitalization of $40.21 billion, a P/E ratio of 14.01, a P/E/G ratio of 3.19 and a beta of 1.15. The company has a current ratio of 1.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $19.22.
ABB (NYSE:ABB) last announced its earnings results on Thursday, July 25th. The industrial products company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.21 billion. ABB had a net margin of 4.95% and a return on equity of 18.97%. ABB’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. On average, research analysts forecast that ABB Ltd will post 0.86 EPS for the current fiscal year.
ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
Recommended Story: Diversification Important in Investing
Want to see what other hedge funds are holding ABB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ABB Ltd (NYSE:ABB).
Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.