Guggenheim Capital LLC Acquires 6,009 Shares of Abbott Laboratories (NYSE:ABT)
Guggenheim Capital LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,672 shares of the healthcare product maker’s stock after purchasing an additional 6,009 shares during the quarter. Guggenheim Capital LLC’s holdings in Abbott Laboratories were worth $14,099,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ABT. Firestone Capital Management purchased a new position in Abbott Laboratories during the 4th quarter worth $68,000. Benjamin Edwards Inc. boosted its holdings in shares of Abbott Laboratories by 57.0% in the 1st quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock worth $25,000 after buying an additional 114 shares during the last quarter. AllSquare Wealth Management LLC boosted its holdings in shares of Abbott Laboratories by 560.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 330 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 280 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Abbott Laboratories by 374.3% in the 1st quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock worth $28,000 after buying an additional 277 shares during the last quarter. Finally, Lion Street Advisors LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 73.64% of the company’s stock.
Shares of ABT traded down $1.05 during midday trading on Friday, hitting $88.58. 2,046,021 shares of the company traded hands, compared to its average volume of 6,661,874. The stock has a 50-day moving average of $91.15 and a 200-day moving average of $86.86. Abbott Laboratories has a one year low of $61.61 and a one year high of $100.00. The firm has a market cap of $158.52 billion, a P/E ratio of 44.34, a PEG ratio of 3.62 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.01.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.08. This represents a $1.44 annualized dividend and a dividend yield of 1.63%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Abbott Laboratories from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, April 17th. JPMorgan Chase & Co. boosted their price target on shares of Abbott Laboratories from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Cfra boosted their price target on shares of Abbott Laboratories from $99.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Citigroup boosted their price target on shares of Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, SVB Leerink dropped their price objective on shares of Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating on the stock in a report on Wednesday, April 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Hold” and a consensus target price of $100.13.
In other news, EVP Andrew H. Lane sold 80,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the sale, the executive vice president now directly owns 107,090 shares in the company, valued at $9,852,280. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Christopher J. Scoggins sold 414 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $96.10, for a total transaction of $39,785.40. Following the completion of the transaction, the senior vice president now owns 39,706 shares in the company, valued at $3,815,746.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,210 shares of company stock worth $13,893,200. Company insiders own 1.70% of the company’s stock.
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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