Regent Investment Management LLC reduced its holdings in Abbott Laboratories (NYSE:ABT – Get Rating) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,302 shares of the healthcare product maker’s stock after selling 200 shares during the quarter. Regent Investment Management LLC’s holdings in Abbott Laboratories were worth $1,880,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Eudaimonia Partners LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at approximately $3,068,000. The Manufacturers Life Insurance Company boosted its stake in Abbott Laboratories by 1.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,925,091 shares of the healthcare product maker’s stock valued at $464,574,000 after purchasing an additional 53,181 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Abbott Laboratories by 0.5% during the 1st quarter. EP Wealth Advisors LLC now owns 23,596 shares of the healthcare product maker’s stock valued at $2,793,000 after purchasing an additional 113 shares in the last quarter. Cornerstone Advisory LLC boosted its stake in Abbott Laboratories by 6.9% during the 1st quarter. Cornerstone Advisory LLC now owns 7,706 shares of the healthcare product maker’s stock valued at $912,000 after purchasing an additional 499 shares in the last quarter. Finally, TRH Financial LLC boosted its stake in Abbott Laboratories by 23.2% during the 1st quarter. TRH Financial LLC now owns 73,590 shares of the healthcare product maker’s stock valued at $8,710,000 after purchasing an additional 13,864 shares in the last quarter. 73.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
ABT has been the subject of a number of research reports. Cowen decreased their price target on Abbott Laboratories from $150.00 to $130.00 in a research note on Wednesday, July 13th. Cowen decreased their price target on Abbott Laboratories from $150.00 to $130.00 in a research note on Wednesday, July 13th. UBS Group reduced their price objective on Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Citigroup reduced their price objective on Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. Finally, Wolfe Research assumed coverage on Abbott Laboratories in a research note on Tuesday, July 5th. They set an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.46.
Insider Buying and Selling
Abbott Laboratories Stock Down 1.9 %
Shares of NYSE:ABT traded down $1.94 during midday trading on Friday, hitting $99.13. 242,703 shares of the stock were exchanged, compared to its average volume of 4,955,861. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.54 and a current ratio of 2.01. Abbott Laboratories has a 52-week low of $99.85 and a 52-week high of $142.60. The business’s fifty day simple moving average is $107.10 and its two-hundred day simple moving average is $111.67. The company has a market capitalization of $173.60 billion, a PE ratio of 21.10, a P/E/G ratio of 3.73 and a beta of 0.72.
Abbott Laboratories (NYSE:ABT – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.34. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The business had revenue of $11.26 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period last year, the company earned $1.17 earnings per share. Abbott Laboratories’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 4.99 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $0.47 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio is 39.25%.
About Abbott Laboratories
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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