Systematic Financial Management LP maintained its position in Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,400 shares of the healthcare product maker’s stock at the end of the second quarter. Systematic Financial Management LP’s holdings in Abbott Laboratories were worth $133,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Burke & Herbert Bank & Trust Co. increased its stake in Abbott Laboratories by 2.0% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 16,206 shares of the healthcare product maker’s stock worth $678,000 after buying an additional 312 shares in the last quarter. Culbertson A N & Co. Inc. bought a new stake in Abbott Laboratories during the first quarter worth about $4,005,000. Mission Wealth Management LLC increased its stake in Abbott Laboratories by 41.8% in the first quarter. Mission Wealth Management LLC now owns 6,756 shares of the healthcare product maker’s stock worth $283,000 after buying an additional 1,991 shares in the last quarter. Iberiabank Corp increased its stake in Abbott Laboratories by 35.8% in the first quarter. Iberiabank Corp now owns 10,513 shares of the healthcare product maker’s stock worth $440,000 after buying an additional 2,771 shares in the last quarter. Finally, Wagner Bowman Management Corp increased its stake in Abbott Laboratories by 4.6% in the first quarter. Wagner Bowman Management Corp now owns 16,051 shares of the healthcare product maker’s stock worth $671,000 after buying an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 73.03% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.73% on Wednesday, hitting $42.02. 1,759,457 shares of the stock traded hands. The stock has a market cap of $61.77 billion, a P/E ratio of 27.74 and a beta of 0.82. The stock’s 50 day moving average price is $42.84 and its 200 day moving average price is $41.26. Abbott Laboratories has a 52-week low of $36.00 and a 52-week high of $46.38.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.87%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Tuesday, September 20th. Bank of America Corp. reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Monday, September 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 price target on shares of Abbott Laboratories in a research note on Monday, September 19th. Jefferies Group lowered their price target on shares of Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, September 13th. Finally, TheStreet raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, August 22nd. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $47.02.
In other Abbott Laboratories news, insider Michael J. Warmuth sold 26,800 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $43.49, for a total transaction of $1,165,532.00. Following the transaction, the insider now owns 81,811 shares of the company’s stock, valued at approximately $3,557,960.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen R. Fussell sold 41,500 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $45.00, for a total transaction of $1,867,500.00. Following the transaction, the insider now directly owns 196,467 shares in the company, valued at approximately $8,841,015. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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