Abbott Laboratories (NYSE:ABT) Shares Sold by Fayerweather Charles

Fayerweather Charles decreased its position in Abbott Laboratories (NYSE:ABT) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,920 shares of the healthcare product maker’s stock after selling 728 shares during the quarter. Abbott Laboratories comprises about 3.9% of Fayerweather Charles’ holdings, making the stock its 8th largest position. Fayerweather Charles’ holdings in Abbott Laboratories were worth $2,600,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Manchester Financial Inc. purchased a new stake in Abbott Laboratories in the 2nd quarter valued at about $30,000. Front Row Advisors LLC grew its holdings in Abbott Laboratories by 790.9% in the 1st quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after buying an additional 348 shares during the period. Weaver Consulting Group purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $33,000. Beacon Capital Management Inc. purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Abbott Laboratories in the 2nd quarter valued at about $42,000. 73.42% of the stock is owned by hedge funds and other institutional investors.

Several analysts have commented on ABT shares. Cowen lifted their price target on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a report on Thursday, April 18th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Friday, June 7th. Morgan Stanley boosted their target price on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, BMO Capital Markets boosted 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $85.82.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 10,600 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $82.00, for a total value of $869,200.00. Following the completion of the transaction, the insider now owns 99,479 shares in the company, valued at approximately $8,157,278. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the transaction, the director now owns 26,266 shares of the company’s stock, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 818,331 shares of company stock valued at $65,369,215. 0.70% of the stock is owned by company insiders.

Shares of NYSE:ABT traded down $0.26 during trading on Friday, reaching $85.82. 4,756,375 shares of the stock were exchanged, compared to its average volume of 4,988,570. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.13 and a current ratio of 1.68. Abbott Laboratories has a 12-month low of $63.07 and a 12-month high of $88.76. The firm has a market capitalization of $152.14 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The company has a 50-day moving average price of $85.32.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same quarter in the previous year, the business earned $0.73 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

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

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