Prospera Financial Services Inc Lowers Position in Abbott Laboratories (NYSE:ABT)

Prospera Financial Services Inc lowered its holdings in Abbott Laboratories (NYSE:ABT) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,522 shares of the healthcare product maker’s stock after selling 2,003 shares during the period. Prospera Financial Services Inc’s holdings in Abbott Laboratories were worth $1,109,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. First Command Bank grew its holdings in shares of Abbott Laboratories by 2.5% during the first quarter. First Command Bank now owns 6,101 shares of the healthcare product maker’s stock worth $488,000 after purchasing an additional 146 shares during the last quarter. Allred Capital Management LLC boosted its stake in shares of Abbott Laboratories by 2.8% in the 1st quarter. Allred Capital Management LLC now owns 7,450 shares of the healthcare product maker’s stock valued at $593,000 after purchasing an additional 204 shares during the last quarter. BTIM Corp. boosted its stake in Abbott Laboratories by 15.1% during the 1st quarter. BTIM Corp. now owns 60,249 shares of the healthcare product maker’s stock worth $4,816,000 after acquiring an additional 7,914 shares during the last quarter. Cohen Klingenstein LLC boosted its stake in Abbott Laboratories by 12.2% during the 1st quarter. Cohen Klingenstein LLC now owns 24,365 shares of the healthcare product maker’s stock worth $1,948,000 after acquiring an additional 2,644 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its stake in Abbott Laboratories by 612.0% during the 1st quarter. Prime Capital Investment Advisors LLC now owns 1,780 shares of the healthcare product maker’s stock worth $142,000 after acquiring an additional 1,530 shares during the last quarter. 73.72% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $84.00, for a total value of $5,964,000.00. Following the completion of the transaction, the executive vice president now owns 167,148 shares of the company’s stock, valued at $14,040,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John M. Capek sold 46,900 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $85.00, for a total value of $3,986,500.00. Following the completion of the transaction, the executive vice president now directly owns 355,435 shares of the company’s stock, valued at approximately $30,211,975. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,397 shares of company stock valued at $39,677,310. Insiders own 0.70% of the company’s stock.

ABT traded up $0.03 on Tuesday, hitting $83.39. 118,505 shares of the stock were exchanged, compared to its average volume of 3,954,266. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76. The business has a 50-day moving average of $85.02 and a two-hundred day moving average of $81.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. The firm has a market capitalization of $148.94 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.37 and a beta of 1.14.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 net margin of 9.36% and a return on equity of 17.26%. The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. Abbott Laboratories’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s payout ratio is 44.44%.

A number of research firms have recently issued reports on ABT. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a report on Wednesday, August 21st. BMO Capital Markets boosted their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Bank of America reissued a “buy” rating and issued a $81.00 target price on shares of Abbott Laboratories in a research report on Thursday, June 13th. Finally, Cowen boosted their target price on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research 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’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $86.38.

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

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