Abbott Laboratories (NYSE:ABT) Shares Purchased by Moneta Group Investment Advisors LLC
Moneta Group Investment Advisors LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 701.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,407 shares of the healthcare product maker’s stock after acquiring an additional 64,250 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Abbott Laboratories were worth $682,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cumberland Partners Ltd raised its stake in shares of Abbott Laboratories by 25.0% in the 2nd quarter. Cumberland Partners Ltd now owns 4,500 shares of the healthcare product maker’s stock valued at $378,000 after acquiring an additional 900 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Abbott Laboratories by 91.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock worth $122,138,000 after acquiring an additional 694,262 shares in the last quarter. Cypress Capital Management LLC boosted its holdings in Abbott Laboratories by 2.0% in the 2nd quarter. Cypress Capital Management LLC now owns 203,419 shares of the healthcare product maker’s stock worth $17,108,000 after acquiring an additional 4,000 shares during the period. Krueger & Catalano Capital Partners LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $244,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in Abbott Laboratories by 3.8% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after acquiring an additional 116 shares in the last quarter. 73.84% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE ABT traded up $0.88 during mid-day trading on Wednesday, hitting $84.09. The company had a trading volume of 208,881 shares, compared to its average volume of 4,080,020. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76. The firm’s 50 day simple moving average is $85.41 and its two-hundred day simple moving average is $81.03. The stock has a market cap of $148.85 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.37 and a beta of 1.14.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, July 12th. Abbott Laboratories’s payout ratio is currently 44.44%.
ABT has been the topic of a number of analyst reports. Wells Fargo & Co lifted their price objective on shares of Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Wednesday, August 21st. BMO Capital Markets lifted their price target on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Bank of America reissued a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $86.38.
In related news, insider Daniel Gesua Sive Salvadori sold 10,600 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $82.00, for a total value of $869,200.00. Following the completion of the transaction, the insider now owns 99,479 shares in the company, valued at approximately $8,157,278. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian B. Yoor sold 43,763 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the transaction, the chief financial officer now directly owns 125,781 shares in the company, valued at approximately $10,788,236.37. The disclosure for this sale can be found here. Insiders have sold a total of 474,997 shares of company stock worth $40,546,510 in the last ninety days. 0.70% of the stock is owned by company insiders.
Abbott Laboratories 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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