Capasso Planning Partners LLC grew its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 10.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,365 shares of the healthcare product maker’s stock after purchasing an additional 416 shares during the period. Capasso Planning Partners LLC’s holdings in Abbott Laboratories were worth $476,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Altshuler Shaham Ltd bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $28,000. Monumental Financial Group Inc. bought a new position in Abbott Laboratories during the first quarter worth about $32,000. FWL Investment Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $33,000. True Wealth Design LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $33,000. Finally, Pacific Center for Financial Services acquired a new stake in Abbott Laboratories in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 73.70% of the company’s stock.
Insider Activity at Abbott Laboratories
In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $94.05, for a total value of $4,702,500.00. Following the sale, the director now directly owns 6,725,316 shares in the company, valued at $632,515,969.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
Abbott Laboratories Trading Up 1.0 %
Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 12.92% and a return on equity of 20.15%. The company had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.44 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were given a $0.51 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.00%. Abbott Laboratories’s dividend payout ratio is 69.39%.
Wall Street Analysts Forecast Growth
ABT has been the topic of several recent analyst reports. Raymond James reduced their target price on shares of Abbott Laboratories from $123.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, October 19th. TheStreet cut shares of Abbott Laboratories from a “b-” rating to a “c+” rating in a research note on Monday, October 16th. Citigroup cut their target price on shares of Abbott Laboratories from $130.00 to $122.00 in a research note on Monday, October 2nd. StockNews.com started coverage on Abbott Laboratories in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, UBS Group reduced their price objective on Abbott Laboratories from $130.00 to $118.00 in a research note on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.47.
Abbott Laboratories Profile
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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