Calamos Advisors LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 312,118 shares of the healthcare product maker’s stock after buying an additional 54 shares during the period. Calamos Advisors LLC’s holdings in Abbott Laboratories were worth $12,269,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Parasol Investment Management LLC increased its stake in Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares during the last quarter. SeaBridge Investment Advisors LLC increased its stake in Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares during the last quarter. CapWealth Advisors LLC increased its stake in Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares during the last quarter. Delta Asset Management LLC TN increased its stake in Abbott Laboratories by 2.8% in the second quarter. Delta Asset Management LLC TN now owns 3,695 shares of the healthcare product maker’s stock valued at $146,000 after buying an additional 100 shares during the last quarter. Finally, Cribstone Capital Management LLC acquired a new stake in Abbott Laboratories during the second quarter valued at approximately $150,000. Institutional investors own 73.03% of the company’s stock.
Abbott Laboratories (NYSE:ABT) traded up 1.23% during trading on Monday, hitting $43.50. The stock had a trading volume of 8,285,075 shares. The company’s 50 day moving average is $42.27 and its 200-day moving average is $41.37. The company has a market cap of $63.94 billion, a PE ratio of 28.71 and a beta of 0.87. Abbott Laboratories has a 12 month low of $36.00 and a 12 month high of $46.38.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. On average, equities research analysts predict that Abbott Laboratories will post ($0.01) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.87%.
Several research analysts have issued reports on ABT shares. Barclays PLC reissued a “buy” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research report on Saturday, June 18th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, July 5th. Jefferies Group raised their target price on Abbott Laboratories from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. BTIG Research reissued a “buy” rating and issued a $45.00 target price on shares of Abbott Laboratories in a research report on Wednesday, August 10th. Finally, Argus reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.02.
In related news, Chairman Miles D. White bought 242,547 shares of Abbott Laboratories stock in a transaction that occurred on Monday, July 25th. The shares were purchased at an average price of $43.18 per share, with a total value of $10,473,179.46. Following the purchase, the chairman now owns 2,010,517 shares in the company, valued at $86,814,124.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $41.71, for a total value of $33,993.65. Following the completion of the sale, the senior vice president now directly owns 59,791 shares in the company, valued at approximately $2,493,882.61. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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