Tobam Has $959,000 Stake in Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Tobam decreased its position in Abbott Laboratories (NYSE:ABT – Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,436 shares of the healthcare product maker’s stock after selling 652 shares during the period. Tobam’s holdings in Abbott Laboratories were worth $959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Finally, True Wealth Design LLC boosted its stake in shares of Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 302 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT traded up $1.69 during mid-day trading on Friday, hitting $104.02. The company’s stock had a trading volume of 6,582,790 shares, compared to its average volume of 5,183,061. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $180.96 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 2.50 and a beta of 0.72. The stock has a fifty day moving average of $104.37 and a 200-day moving average of $109.93.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.11%. Abbott Laboratories’s dividend payout ratio is 68.54%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of research reports. Evercore ISI decreased their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup cut their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Finally, Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

Get Our Latest Stock Analysis on Abbott Laboratories

About Abbott Laboratories

(Free Report)

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 company 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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