Webster Bank N. A. increased its stake in Abbott Laboratories (NYSE:ABT) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 9,875 shares of the healthcare product maker’s stock after buying an additional 266 shares during the period. Webster Bank N. A.’s holdings in Abbott Laboratories were worth $439,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in ABT. Baltimore Washington Financial Advisors Inc. bought a new stake in Abbott Laboratories during the fourth quarter valued at $4,680,000. Cypress Capital Management LLC WY increased its stake in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new stake in Abbott Laboratories during the first quarter valued at $112,000. First Command Financial Services Inc. increased its stake in Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock valued at $124,000 after buying an additional 257 shares in the last quarter. Finally, Advantage Investment Management LLC bought a new stake in Abbott Laboratories during the fourth quarter valued at $120,000. 71.10% of the stock is currently owned by institutional investors.
Abbott Laboratories (NYSE ABT) opened at 48.44 on Monday. The firm has a market cap of $84.06 billion, a P/E ratio of 50.41 and a beta of 1.07. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $49.59. The company has a 50-day moving average of $46.26 and a 200 day moving average of $43.65.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.05. Abbott Laboratories had a return on equity of 14.91% and a net margin of 6.74%. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period last year, the business earned $0.41 EPS. The business’s quarterly revenue was up 29.7% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post $2.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 110.42%.
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Several research firms recently issued reports on ABT. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Guggenheim began coverage on shares of Abbott Laboratories in a research note on Thursday, June 29th. They issued a “buy” rating and a $58.00 target price for the company. BTIG Research initiated coverage on shares of Abbott Laboratories in a research note on Wednesday, June 21st. They issued a “buy” rating and a $56.00 target price for the company. Wells Fargo & Company restated an “outperform” rating and set a $54.00 price objective (up from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. Finally, Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $51.57.
In other Abbott Laboratories news, insider Roger Bird sold 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $43.82, for a total value of $245,392.00. Following the sale, the insider now owns 51,313 shares of the company’s stock, valued at approximately $2,248,535.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the sale, the insider now directly owns 221,488 shares in the company, valued at approximately $10,188,448. The disclosure for this sale can be found here. Insiders have sold a total of 206,902 shares of company stock valued at $9,497,761 over the last ninety days. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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