Cooper Haims Advisors LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 24.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,116 shares of the healthcare product maker’s stock after selling 1,000 shares during the period. Cooper Haims Advisors LLC’s holdings in Abbott Laboratories were worth $262,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its holdings in Abbott Laboratories by 0.3% during the first quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock worth $1,904,774,000 after buying an additional 65,260 shares during the last quarter. Geode Capital Management LLC increased its holdings in Abbott Laboratories by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock worth $1,598,270,000 after buying an additional 1,778,840 shares during the last quarter. Norges Bank acquired a new position in Abbott Laboratories during the fourth quarter worth $1,239,454,000. Legal & General Group Plc increased its holdings in Abbott Laboratories by 8.8% during the fourth quarter. Legal & General Group Plc now owns 8,343,002 shares of the healthcare product maker’s stock worth $603,446,000 after buying an additional 672,358 shares during the last quarter. Finally, Ronna Sue Cohen increased its holdings in Abbott Laboratories by 7,636.6% during the first quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock worth $6,249,000 after buying an additional 6,168,186 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.
A number of brokerages recently weighed in on ABT. BMO Capital Markets boosted their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Friday, June 7th. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Cowen lifted their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $85.82.
ABT stock opened at $84.86 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The stock’s fifty day moving average is $85.55. Abbott Laboratories has a one year low of $63.07 and a one year high of $88.76. The company has a market capitalization of $151.68 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. Abbott Laboratories’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 earnings per share. Research analysts expect that Abbott Laboratories will post 3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.51%. Abbott Laboratories’s payout ratio is presently 44.44%.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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