Captrust Financial Advisors grew its holdings in Abbott Laboratories (NYSE:ABT) by 6.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 37,132 shares of the healthcare product maker’s stock after acquiring an additional 2,222 shares during the period. Captrust Financial Advisors’ holdings in Abbott Laboratories were worth $2,265,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in ABT. HC Financial Advisors Inc. purchased a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $836,000. Intersect Capital LLC purchased a new position in shares of Abbott Laboratories in the first quarter worth approximately $300,000. Meeder Asset Management Inc. increased its position in shares of Abbott Laboratories by 66.9% in the first quarter. Meeder Asset Management Inc. now owns 52,890 shares of the healthcare product maker’s stock worth $3,170,000 after acquiring an additional 21,198 shares in the last quarter. Hodges Capital Management Inc. increased its position in shares of Abbott Laboratories by 12.5% in the first quarter. Hodges Capital Management Inc. now owns 14,030 shares of the healthcare product maker’s stock worth $841,000 after acquiring an additional 1,562 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new position in shares of Abbott Laboratories in the first quarter worth approximately $21,557,000. Institutional investors and hedge funds own 72.48% of the company’s stock.
In related news, insider Andrew H. Lane sold 9,097 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total transaction of $610,499.67. Following the transaction, the insider now directly owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian J. Blaser sold 15,100 shares of the business’s stock in a transaction that occurred on 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 directly owns 151,718 shares in the company, valued at $9,703,883.28. The disclosure for this sale can be found here. Insiders have sold 90,389 shares of company stock worth $5,995,012 over the last ninety days. 0.74% of the stock is currently owned by insiders.
ABT has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Sanford C. Bernstein initiated coverage on shares of Abbott Laboratories in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 target price on the stock. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, July 19th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $70.00 target price on shares of Abbott Laboratories in a research report on Thursday, July 19th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $69.88.
Shares of ABT opened at $66.21 on Friday. Abbott Laboratories has a 52 week low of $51.29 and a 52 week high of $67.36. The company has a market cap of $115.49 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.84 and a beta of 1.48. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. equities research analysts predict that Abbott Laboratories will post 2.88 EPS for the current year.
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 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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