Wheatland Advisors Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,019 shares of the healthcare product maker’s stock after selling 23 shares during the period. Wheatland Advisors Inc.’s holdings in Abbott Laboratories were worth $312,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Banco Santander S.A. purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $5,189,000. Perceptive Advisors LLC bought a new position in Abbott Laboratories during the fourth quarter valued at about $1,921,000. L & S Advisors Inc bought a new position in Abbott Laboratories during the fourth quarter valued at about $468,000. Marshwinds Advisory Co. raised its position in Abbott Laboratories by 118.2% in the first quarter. Marshwinds Advisory Co. now owns 66,576 shares of the healthcare product maker’s stock valued at $2,957,000 after buying an additional 36,069 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its position in Abbott Laboratories by 7.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 103,815 shares of the healthcare product maker’s stock valued at $4,610,000 after buying an additional 7,309 shares during the period. Hedge funds and other institutional investors own 71.02% of the company’s stock.
Shares of Abbott Laboratories (ABT) opened at 48.76 on Tuesday. The firm has a market capitalization of $84.61 billion, a PE ratio of 50.74 and a beta of 1.06. The firm’s 50-day moving average price is $46.26 and its 200-day moving average price is $43.65. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $49.59.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The company had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.16 billion. Abbott Laboratories had a return on equity of 14.91% and a net margin of 6.74%. The business’s revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. On average, equities analysts predict that Abbott Laboratories will post $2.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.17%. Abbott Laboratories’s dividend payout ratio is presently 110.42%.
ABT has been the topic of several analyst reports. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Tuesday, May 16th. TheStreet downgraded Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. Barclays PLC lifted their target price on Abbott Laboratories from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $42.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 19th. Finally, Cowen and Company reiterated an “outperform” rating and set a $48.00 price target on shares of Abbott Laboratories in a research report on Saturday, April 22nd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $51.33.
In other Abbott Laboratories news, insider Joseph J. Manning sold 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $43.95, for a total value of $184,590.00. Following the completion of the sale, the insider now directly owns 26,224 shares in the company, valued at $1,152,544.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jared Watkin sold 552 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the sale, the insider now owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,902 shares of company stock valued at $9,497,761. Insiders own 0.76% of the company’s stock.
About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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