First Financial Corp IN decreased its holdings in Abbott Laboratories (NYSE:ABT) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,473 shares of the healthcare product maker’s stock after selling 1,004 shares during the period. Abbott Laboratories comprises approximately 1.5% of First Financial Corp IN’s portfolio, making the stock its 12th largest position. First Financial Corp IN’s holdings in Abbott Laboratories were worth $1,805,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of ABT. Northern Trust Corp grew its position in Abbott Laboratories by 2.7% during the fourth quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock worth $1,924,260,000 after buying an additional 708,691 shares during the period. Krueger & Catalano Capital Partners LLC acquired a new position in Abbott Laboratories during the first quarter worth about $244,000. Barometer Capital Management Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $8,251,000. FMR LLC grew its position in shares of Abbott Laboratories by 0.3% in the first quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after purchasing an additional 65,260 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. grew its position in shares of Abbott Laboratories by 2.5% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock valued at $4,956,000 after purchasing an additional 1,514 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.
Several analysts have recently commented on ABT shares. Bank of America set a $10.00 price target on shares of HEXO and gave the company a “buy” rating in a research report on Thursday, June 13th. Jefferies Financial Group lowered shares of Alcoa from a “buy” rating to a “hold” rating and lowered their price target for the company from $29.00 to $23.00 in a research report on Thursday, July 18th. Zacks Investment Research lowered shares of Home Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. BMO Capital Markets reduced their price objective on shares of Comerica to $78.00 and set a “market perform” rating on the stock in a research note on Thursday, July 18th. Finally, Royal Bank of Canada upped their price objective on shares of Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $85.82.
Shares of ABT stock opened at $88.00 on Friday. The company has a fifty day simple moving average of $84.29. Abbott Laboratories has a 52 week low of $63.07 and a 52 week high of $88.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market cap of $155.25 billion, a P/E ratio of 30.56, a PEG ratio of 2.49 and a beta of 1.10.
Abbott Laboratories (NYSE:ABT) last issued 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. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.39%. The business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8 billion. During the same quarter last year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
In related news, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $84.00, for a total transaction of $5,964,000.00. Following the completion of the sale, the executive vice president now directly owns 167,148 shares of the company’s stock, valued at approximately $14,040,432. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Blaser sold 450,062 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total transaction of $33,988,682.24. Following the sale, the insider now directly owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The disclosure for this sale can be found here. In the last three months, insiders sold 1,060,260 shares of company stock worth $83,722,711. Insiders own 0.70% of the company’s stock.
About Abbott Laboratories
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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