GWM Advisors LLC Increases Holdings in Abbott Laboratories (ABT)

GWM Advisors LLC raised its position in Abbott Laboratories (NYSE:ABT) by 5.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,835 shares of the healthcare product maker’s stock after purchasing an additional 1,223 shares during the period. GWM Advisors LLC’s holdings in Abbott Laboratories were worth $1,150,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Heritage Trust Co raised its holdings in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares during the period. Winfield Associates Inc. raised its holdings in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares during the period. Thompson Davis & CO. Inc. raised its holdings in shares of Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,094 shares during the period. Finally, Motco raised its holdings in shares of Abbott Laboratories by 213.7% during the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 1,962 shares during the period. Institutional investors own 71.32% of the company’s stock.

In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the transaction, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the transaction, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 588,013 shares of company stock valued at $32,023,946. 0.76% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on the company. Citigroup assumed coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price target on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, September 22nd. Barclays boosted their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. J P Morgan Chase & Co initiated coverage on shares of Abbott Laboratories in a report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price objective on the stock. Finally, Jefferies Group restated a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus target price of $57.56.

Abbott Laboratories (ABT) opened at $55.70 on Wednesday. The firm has a market capitalization of $95,628.62, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.06 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 52-week low of $37.90 and a 52-week high of $56.69.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. equities research analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

TRADEMARK VIOLATION NOTICE: “GWM Advisors LLC Increases Holdings in Abbott Laboratories (ABT)” was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://sportsperspectives.com/2017/12/13/gwm-advisors-llc-increases-holdings-in-abbott-laboratories-abt.html.

Abbott Laboratories Company Profile

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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply