Smith Moore & CO. Purchases 140 Shares of Abbott Laboratories (ABT)
Smith Moore & CO. boosted its stake in Abbott Laboratories (NYSE:ABT) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,283 shares of the healthcare product maker’s stock after buying an additional 140 shares during the period. Smith Moore & CO.’s holdings in Abbott Laboratories were worth $1,300,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in ABT. Grassi Investment Management raised its stake in shares of Abbott Laboratories by 242.4% in the first quarter. Grassi Investment Management now owns 110,110 shares of the healthcare product maker’s stock valued at $4,890,000 after buying an additional 77,950 shares during the last quarter. Bremer Trust National Association raised its stake in shares of Abbott Laboratories by 87.1% in the first quarter. Bremer Trust National Association now owns 24,907 shares of the healthcare product maker’s stock valued at $1,107,000 after buying an additional 11,594 shares in the last quarter. TNB Financial bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $1,406,000. Banced Corp bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $497,000. Finally, Gierl Augustine Investment Management Inc raised its stake in shares of Abbott Laboratories by 265.5% in the first quarter. Gierl Augustine Investment Management Inc now owns 4,795 shares of the healthcare product maker’s stock valued at $213,000 after buying an additional 3,483 shares in the last quarter. 71.64% of the stock is currently owned by institutional investors.
Abbott Laboratories (NYSE:ABT) traded up 0.800% during trading on Monday, reaching $49.745. The company’s stock had a trading volume of 1,128,739 shares. The stock has a market cap of $86.43 billion, a P/E ratio of 69.671 and a beta of 1.07. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $51.13. The company’s 50 day moving average price is $49.25 and its 200-day moving average price is $46.20.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The company’s revenue was up 24.5% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were given a dividend of $0.265 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.15%. Abbott Laboratories’s payout ratio is 149.30%.
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Several brokerages recently commented on ABT. Stifel Nicolaus reaffirmed a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and issued a $57.00 price target (up previously from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Citigroup Inc. began coverage on Abbott Laboratories in a research note on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price target on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 17th. Finally, BidaskClub lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $52.14.
In other news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the sale, the insider now directly owns 221,488 shares in the company, valued at $10,188,448. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jared Watkin sold 552 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the sale, the insider now owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,252 shares of company stock valued at $19,878,958. Company insiders own 0.76% of the company’s stock.
About Abbott Laboratories
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.
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