Adviser Investments LLC Purchases 236 Shares of Abbott Laboratories (NYSE:ABT)

Adviser Investments LLC grew its holdings in Abbott Laboratories (NYSE:ABTGet Rating) by 4.6% during the second quarter, Holdings Channel.com reports. The firm owned 5,417 shares of the healthcare product maker’s stock after acquiring an additional 236 shares during the period. Adviser Investments LLC’s holdings in Abbott Laboratories were worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Bourgeon Capital Management LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth approximately $30,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $30,000. Dravo Bay LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth $32,000. Delos Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 100.9% in the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 116 shares during the period. Finally, Holloway Wealth Management LLC boosted its position in shares of Abbott Laboratories by 175.0% during the first quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 175 shares during the period. Institutional investors own 73.03% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $101.07 on Friday. The stock has a 50 day moving average of $107.10 and a 200 day moving average of $111.67. 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 company has a market capitalization of $177.00 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 3.79 and a beta of 0.72. Abbott Laboratories has a 12 month low of $99.85 and a 12 month high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, beating 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 analysts’ expectations of $10.37 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.99 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, October 13th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 39.25%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Evercore ISI lowered their price target on Abbott Laboratories to $112.00 in a research report on Friday, July 22nd. BTIG Research reduced their price objective on shares of Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Cowen cut their price objective on shares of Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Citigroup dropped their price objective on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. Finally, Wolfe Research initiated coverage on Abbott Laboratories in a report on Tuesday, July 5th. They set an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $132.46.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 102,425 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the transaction, the chief executive officer now directly owns 142,071 shares of the company’s stock, valued at approximately $14,931,662.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Abbott Laboratories news, CEO Robert B. Ford sold 102,425 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the sale, the chief executive officer now owns 142,071 shares in the company, valued at approximately $14,931,662.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Fernando Mateus sold 2,457 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total transaction of $267,935.85. Following the completion of the transaction, the senior vice president now directly owns 14,503 shares in the company, valued at approximately $1,581,552.15. The disclosure for this sale can be found here. Insiders have sold 204,788 shares of company stock worth $21,776,756 in the last 90 days. Insiders own 0.52% of the company’s stock.

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.

See Also

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:ABTGet Rating).

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.