Well Done LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,120 shares of the healthcare product maker’s stock after selling 1,390 shares during the period. Abbott Laboratories makes up 1.1% of Well Done LLC’s portfolio, making the stock its 24th biggest position. Well Done LLC’s holdings in Abbott Laboratories were worth $4,804,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of ABT. Northern Trust Corp raised its holdings in Abbott Laboratories by 2.7% in the fourth quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock worth $1,924,260,000 after purchasing an additional 708,691 shares during the period. Krueger & Catalano Capital Partners LLC acquired a new stake in Abbott Laboratories in the first quarter worth $244,000. Barometer Capital Management Inc. acquired a new stake in Abbott Laboratories in the fourth quarter worth $8,251,000. FMR LLC raised its holdings in Abbott Laboratories by 0.3% in the first quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock worth $1,904,774,000 after purchasing an additional 65,260 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. raised its holdings in Abbott Laboratories by 2.5% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock worth $4,956,000 after purchasing an additional 1,514 shares during the period. 73.42% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on ABT. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Friday, June 7th. Royal Bank of Canada increased their target price on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. BMO Capital Markets increased their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Wells Fargo & Co raised their price objective on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Finally, Raymond James raised their price objective on shares of Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $85.82.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.39%. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. During the same quarter last year, the firm posted $0.73 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts predict that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
In related news, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of Abbott Laboratories stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $82.00, for a total transaction of $596,058.00. Following the completion of the sale, the executive vice president now owns 99,479 shares of the company’s stock, 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, insider Randel William Woodgrift sold 65,000 shares of Abbott Laboratories stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the sale, the insider now directly owns 117,562 shares of the company’s stock, valued at approximately $10,346,631.62. The disclosure for this sale can be found here. In the last three months, insiders sold 1,125,260 shares of company stock valued at $89,443,361. Insiders own 0.70% 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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