Wrapmanager Inc. Purchases New Stake in Abbott Laboratories (ABT)

Wrapmanager Inc. bought a new stake in Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,740 shares of the healthcare product maker’s stock, valued at approximately $228,000.

Other hedge funds have also modified their holdings of the company. Rainier Group Investment Advisory LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $114,000. FNY Investment Advisers LLC bought a new position in shares of Abbott Laboratories in the 2nd quarter valued at $118,000. Private Ocean LLC lifted its stake in shares of Abbott Laboratories by 9,868.2% in the 1st quarter. Private Ocean LLC now owns 2,193 shares of the healthcare product maker’s stock valued at $131,000 after acquiring an additional 2,171 shares during the last quarter. We Are One Seven LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $138,000. Finally, Certified Advisory Corp bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $144,000. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:ABT opened at $63.63 on Thursday. The firm has a market cap of $112.33 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.79 and a beta of 1.53. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16. Abbott Laboratories has a 12-month low of $48.58 and a 12-month high of $65.90.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.71 billion. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. Abbott Laboratories’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. analysts expect that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Friday, July 13th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.76%. The ex-dividend date was Thursday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 3,000 shares of the stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $61.20, for a total transaction of $183,600.00. Following the completion of the sale, the insider now directly owns 95,581 shares in the company, valued at approximately $5,849,557.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian J. Blaser sold 15,100 shares of the stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total value of $965,796.00. Following the sale, the executive vice president now owns 151,718 shares of the company’s stock, valued at $9,703,883.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,024 shares of company stock valued at $1,272,440. 0.74% of the stock is owned by corporate insiders.

ABT has been the subject of a number of research reports. Stifel Nicolaus increased their price target on Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of Abbott Laboratories in a research note on Thursday, July 19th. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Sunday, April 22nd. Finally, Sanford C. Bernstein initiated coverage on Abbott Laboratories in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price target for the company. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $69.88.

About Abbott Laboratories

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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