Roanoke Asset Management Corp NY lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,955 shares of the healthcare product maker’s stock after selling 125 shares during the quarter. Abbott Laboratories accounts for about 2.2% of Roanoke Asset Management Corp NY’s investment portfolio, making the stock its 13th largest holding. Roanoke Asset Management Corp NY’s holdings in Abbott Laboratories were worth $4,790,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Winslow Evans & Crocker Inc. boosted its stake in shares of Abbott Laboratories by 5.1% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 30,428 shares of the healthcare product maker’s stock valued at $2,560,000 after buying an additional 1,486 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its position in shares of Abbott Laboratories by 2.8% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 47,695 shares of the healthcare product maker’s stock valued at $4,011,000 after acquiring an additional 1,318 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Abbott Laboratories by 11.2% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 35,617 shares of the healthcare product maker’s stock valued at $2,996,000 after acquiring an additional 3,600 shares in the last quarter. Lbmc Investment Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at approximately $215,000. Finally, NuWave Investment Management LLC raised its position in shares of Abbott Laboratories by 517.7% during the 2nd quarter. NuWave Investment Management LLC now owns 8,617 shares of the healthcare product maker’s stock valued at $725,000 after acquiring an additional 7,222 shares in the last quarter. 73.42% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on ABT shares. Cowen reissued a “buy” rating and set a $184.00 price target on shares of Union Pacific in a research report on Thursday, July 18th. Royal Bank of Canada upped their price target on Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Zacks Investment Research lowered Home Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Raymond James dropped their price target on SM Energy from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. Finally, Jefferies Financial Group lowered Alcoa from a “buy” rating to a “hold” rating and dropped their price target for the company from $29.00 to $23.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $85.82.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.39% and a net margin of 9.36%. The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. During the same period last year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $82.00, for a total value of $596,058.00. Following the sale, the executive vice president now directly owns 99,479 shares of the company’s stock, valued at $8,157,278. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jared Watkin sold 309,429 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $78.51, for a total value of $24,293,270.79. Following the transaction, the insider now directly owns 189,227 shares in the company, valued at $14,856,211.77. The disclosure for this sale can be found here. Insiders sold 1,125,260 shares of company stock worth $89,443,361 over the last ninety days. 0.70% of the stock is owned by corporate insiders.
Abbott Laboratories Company 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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