Newfound Research LLC Sells 291 Shares of Abbott Laboratories (NYSE:ABT)

Newfound Research LLC decreased its holdings in Abbott Laboratories (NYSE:ABTGet Rating) by 24.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 904 shares of the healthcare product maker’s stock after selling 291 shares during the period. Newfound Research LLC’s holdings in Abbott Laboratories were worth $98,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Eudaimonia Partners LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $3,068,000. The Manufacturers Life Insurance Company boosted its stake in shares of Abbott Laboratories by 1.4% in the first quarter. The Manufacturers Life Insurance Company now owns 3,925,091 shares of the healthcare product maker’s stock worth $464,574,000 after acquiring an additional 53,181 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Abbott Laboratories by 0.5% in the first quarter. EP Wealth Advisors LLC now owns 23,596 shares of the healthcare product maker’s stock worth $2,793,000 after acquiring an additional 113 shares during the period. Cornerstone Advisory LLC boosted its stake in shares of Abbott Laboratories by 6.9% in the first quarter. Cornerstone Advisory LLC now owns 7,706 shares of the healthcare product maker’s stock worth $912,000 after acquiring an additional 499 shares during the period. Finally, TRH Financial LLC boosted its stake in shares of Abbott Laboratories by 23.2% in the first quarter. TRH Financial LLC now owns 73,590 shares of the healthcare product maker’s stock worth $8,710,000 after acquiring an additional 13,864 shares during the period. Institutional investors own 73.03% of the company’s stock.

Abbott Laboratories Trading Down 1.4 %

Shares of NYSE ABT traded down $1.46 during midday trading on Friday, hitting $99.61. The company’s stock had a trading volume of 364,983 shares, compared to its average volume of 4,955,861. The company has a current ratio of 2.01, a quick ratio of 1.54 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $107.10 and its two-hundred day moving average is $111.67. Abbott Laboratories has a 12-month low of $99.85 and a 12-month high of $142.60. The firm has a market cap of $174.44 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 3.73 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.34. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The firm had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Abbott Laboratories will post 4.99 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a $0.47 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.88 annualized dividend and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 39.25%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABT. Evercore ISI decreased their target price on Abbott Laboratories to $112.00 in a research report on Friday, July 22nd. Wolfe Research began coverage on Abbott Laboratories in a research report on Tuesday, July 5th. They issued an “underperform” rating on the stock. Stifel Nicolaus decreased their target price on Abbott Laboratories from $136.00 to $126.00 in a research report on Monday, July 18th. Cowen decreased their target price on Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Finally, Morgan Stanley decreased their target price on Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.46.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 102,425 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total value of $10,764,867.50. Following the transaction, the chief executive officer now owns 142,071 shares of the company’s stock, valued at $14,931,662.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Robert B. Ford sold 102,425 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total value of $10,764,867.50. Following the transaction, the chief executive officer now owns 142,071 shares of the company’s stock, valued at $14,931,662.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total value of $5,457,000.00. Following the completion of the transaction, the director now directly owns 6,923,500 shares in the company, valued at approximately $755,630,790. The disclosure for this sale can be found here. Insiders have sold a total of 204,788 shares of company stock valued at $21,776,756 over the last quarter. 0.52% of the stock is owned by corporate insiders.

About Abbott Laboratories

(Get Rating)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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