Dakota Wealth Management Purchases Shares of 3,544 Abbott Laboratories (ABT)

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Dakota Wealth Management purchased a new stake in Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,544 shares of the healthcare product maker’s stock, valued at approximately $216,000.

A number of other large investors also recently added to or reduced their stakes in ABT. Rainier Group Investment Advisory LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at $114,000. FNY Investment Advisers LLC bought a new stake in Abbott Laboratories during the second quarter worth about $118,000. Private Ocean LLC boosted its stake in Abbott Laboratories by 9,868.2% during the first quarter. Private Ocean LLC now owns 2,193 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,171 shares in the last quarter. Silvant Capital Management LLC bought a new stake in Abbott Laboratories during the first quarter worth about $160,000. Finally, Gables Capital Management Inc. bought a new stake in Abbott Laboratories during the first quarter worth about $170,000. Institutional investors and hedge funds own 72.48% of the company’s stock.

A number of analysts have recently commented on the company. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Sanford C. Bernstein assumed coverage on Abbott Laboratories in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $70.00 price target on shares of Abbott Laboratories in a research report on Thursday, July 19th. Finally, Stifel Nicolaus boosted their price target on Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, July 19th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $69.88.

In other Abbott Laboratories news, insider Michael J. Pederson sold 1,050 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $63.43, for a total transaction of $66,601.50. Following the transaction, the insider now owns 79,467 shares in the company, valued at approximately $5,040,591.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian J. Blaser sold 15,100 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $965,796.00. Following the transaction, the executive vice president now owns 151,718 shares in the company, valued at approximately $9,703,883.28. The disclosure for this sale can be found here. Insiders sold a total of 17,024 shares of company stock worth $1,088,840 over the last ninety days. 0.74% of the stock is currently owned by insiders.

Shares of NYSE ABT opened at $67.02 on Friday. The company has a market capitalization of $117.17 billion, a PE ratio of 24.56, a PEG ratio of 1.87 and a beta of 1.53. Abbott Laboratories has a 52-week low of $49.49 and a 52-week high of $67.36. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.58.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.71 billion. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. research analysts anticipate that Abbott Laboratories will post 2.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Friday, July 13th were given a $0.28 dividend. The ex-dividend date was Thursday, July 12th. This represents a $1.12 annualized dividend and a yield of 1.67%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine 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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