2 weeks Ago By ABMN Staff
Copperwynd Financial LLC grew its stake in shares of Abbott Laboratories ( NYSE:ABT – Free Report ) by 36.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,620 shares of the healthcare product maker’s stock after buying an additional 2,282 shares during the period.
Copperwynd Financial LLC’s holdings in Abbott Laboratories were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Other hedge funds have also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the second quarter valued at approximately $28,000.
Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $29,000.
Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the first quarter valued at $30,000. Finally, Itau Unibanco Holding S.A.
purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Analyst Ratings Changes Several brokerages have weighed in on ABT. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.
00 price objective on the stock. Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.
00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $125.
00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday.
Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $124.
00. Abbott Laboratories Stock Down 0.3 % Shares of NYSE ABT opened at $112.
43 on Friday. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.
64. The stock’s fifty day simple moving average is $111.57 and its two-hundred day simple moving average is $108.
28. The stock has a market capitalization of $195.59 billion, a PE ratio of 35.
02, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72.
The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.
33. Abbott Laboratories ( NYSE:ABT – Get Free Report ) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.
14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04.
Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%.
The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion.
During the same period in the previous year, the company posted $1.08 earnings per share. The firm’s revenue was up 4.
0% on a year-over-year basis. As a group, analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.
Abbott Laboratories Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share.
This represents a $2.20 annualized dividend and a yield of 1.96%.
The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.
Insider Buying and Selling at Abbott Laboratories In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.
41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.
19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink . 1.
10% of the stock is currently owned by company insiders. About Abbott Laboratories ( Free Report ) 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 company 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. Further Reading 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 – Free Report ).
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