Vestor Capital LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,836 shares of the healthcare product maker’s stock after purchasing an additional 2,870 shares during the period. Abbott Laboratories makes up about 2.7% of Vestor Capital LLC’s investment portfolio, making the stock its 11th biggest holding. Vestor Capital LLC’s holdings in Abbott Laboratories were worth $15,040,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manchester Financial Inc. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $30,000. Front Row Advisors LLC grew its stake in shares of Abbott Laboratories by 790.9% during the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after acquiring an additional 348 shares in the last quarter. Weaver Consulting Group acquired a new stake in shares of Abbott Laboratories during the first quarter valued at about $33,000. Beacon Capital Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter valued at about $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Abbott Laboratories during the second quarter valued at about $42,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Shares of ABT stock traded down $2.25 during trading hours on Friday, hitting $82.12. 2,354,556 shares of the company were exchanged, compared to its average volume of 4,808,151. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. Abbott Laboratories has a one year low of $65.22 and a one year high of $88.76. The business’s 50-day simple moving average is $85.89 and its two-hundred day simple moving average is $80.07. The stock has a market capitalization of $149.42 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 2.38 and a beta of 1.12.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a dividend of $0.32 per share. The ex-dividend date was Friday, July 12th. This represents a $1.28 annualized dividend and a dividend yield of 1.56%. Abbott Laboratories’s payout ratio is 44.44%.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $82.00, for a total value of $596,058.00. Following the transaction, the executive vice president now 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 accessible through this hyperlink. Also, insider Hubert L. Allen sold 165,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $85.00, for a total transaction of $14,025,000.00. Following the completion of the transaction, the insider now directly owns 311,010 shares in the company, valued at approximately $26,435,850. The disclosure for this sale can be found here. Insiders have sold 435,040 shares of company stock worth $37,121,747 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Several analysts have recently weighed in on ABT shares. BMO Capital Markets raised their target price on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research note on Wednesday. Bank of America restated a “buy” rating and set a $81.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 13th. Cowen raised their target price on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Raymond James raised their target price on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $86.38.
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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