Rosenbaum Jay D. decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,530 shares of the healthcare product maker’s stock after selling 200 shares during the quarter. Rosenbaum Jay D.’s holdings in Abbott Laboratories were worth $633,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in ABT. Manchester Financial Inc. bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth $30,000. Front Row Advisors LLC increased its holdings in shares of Abbott Laboratories by 790.9% in the 1st quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after purchasing an additional 348 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Abbott Laboratories in the 1st quarter worth $33,000. Beacon Capital Management Inc. bought a new stake in shares of Abbott Laboratories in the 1st quarter worth $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth $42,000. Institutional investors and hedge funds own 73.42% of the company’s stock.
In other Abbott Laboratories news, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the sale, the director now owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Blaser sold 450,062 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the sale, the insider now directly owns 295,745 shares of the company’s stock, valued at approximately $22,334,662.40. The disclosure for this sale can be found here. Insiders sold 885,102 shares of company stock valued at $71,110,429 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. Abbott Laboratories’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts forecast that Abbott Laboratories will post 3.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s payout ratio is currently 44.44%.
ABT has been the subject of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a report on Thursday, April 18th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a report on Friday, June 7th. BMO Capital Markets lifted their target price on Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Raymond James lifted their target price on 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 given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $85.82.
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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