Colonial River Wealth Management LLC purchased a new stake in Abbott Laboratories (NYSE:ABT) in the second quarter, Holdings Channel reports. The firm purchased 1,860 shares of the healthcare product maker’s stock, valued at approximately $216,000.
Several other hedge funds also recently bought and sold shares of the company. 4Thought Financial Group Inc. acquired a new position in Abbott Laboratories in the second quarter valued at approximately $25,000. Sierra Capital LLC acquired a new position in Abbott Laboratories in the first quarter valued at approximately $30,000. Holloway Wealth Management LLC lifted its stake in Abbott Laboratories by 150.0% during the second quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock worth $29,000 after purchasing an additional 150 shares in the last quarter. CKW Financial Group acquired a new position in Abbott Laboratories during the second quarter worth $36,000. Finally, Isthmus Partners LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth $36,000. Institutional investors and hedge funds own 72.05% of the company’s stock.
In other news, SVP Randel William Woodgrift sold 6,350 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $129.00, for a total value of $819,150.00. Following the completion of the sale, the senior vice president now directly owns 50,093 shares of the company’s stock, valued at approximately $6,461,997. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew H. Lane sold 135,925 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $125.47, for a total transaction of $17,054,509.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,883 shares of company stock valued at $27,964,400. Insiders own 1.50% of the company’s stock.
ABT stock traded up $0.43 during midday trading on Thursday, hitting $117.43. The stock had a trading volume of 61,995 shares, compared to its average volume of 5,370,625. The firm has a market cap of $208.18 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66. The company’s 50-day moving average price is $123.59 and its 200 day moving average price is $119.60. Abbott Laboratories has a 12-month low of $103.13 and a 12-month high of $129.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.15. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $9.67 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The business’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Friday, October 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, October 14th. Abbott Laboratories’s dividend payout ratio is presently 49.32%.
Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
Featured Article: Should You Consider an Index Fund?
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.