Holderness Investments Co. Sells 200 Shares of Abbott Laboratories (NYSE:ABT)

Holderness Investments Co. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,303 shares of the healthcare product maker’s stock after selling 200 shares during the quarter. Holderness Investments Co.’s holdings in Abbott Laboratories were worth $866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Manchester Financial Inc. bought a new position in Abbott Laboratories during the 2nd quarter worth approximately $30,000. Front Row Advisors LLC lifted 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 worth $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 worth approximately $33,000. Beacon Capital Management Inc. purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Abbott Laboratories in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 73.42% of the company’s stock.

Several research firms have weighed in on ABT. Cowen increased their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley increased their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Raymond James increased their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Friday, June 7th. Finally, BMO Capital Markets increased their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $85.82.

In other news, insider Randel William Woodgrift sold 65,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total value of $5,720,650.00. Following the completion of the transaction, the insider now owns 117,562 shares in the company, valued at approximately $10,346,631.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael J. Pederson sold 23,008 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $86.39, for a total value of $1,987,661.12. Following the completion of the transaction, the senior vice president now owns 104,228 shares of the company’s stock, valued at approximately $9,004,256.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 885,102 shares of company stock valued at $71,110,429. 0.70% of the stock is currently owned by company insiders.

Shares of ABT traded up $0.84 on Friday, reaching $84.78. The stock had a trading volume of 5,496,100 shares, compared to its average volume of 5,113,646. The firm has a market capitalization of $149.84 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The company has a 50-day simple moving average of $85.81 and a 200-day simple moving average of $79.81. Abbott Laboratories has a 12-month low of $64.03 and a 12-month high of $88.76.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. On average, analysts expect that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Friday, July 12th. Abbott Laboratories’s payout ratio is presently 44.44%.

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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