A. D. Beadell Investment Counsel Inc. Sells 800 Shares of Abbott Laboratories (NYSE:ABT)

A. D. Beadell Investment Counsel Inc. decreased its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,765 shares of the healthcare product maker’s stock after selling 800 shares during the quarter. Abbott Laboratories accounts for about 3.3% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 4th largest position. A. D. Beadell Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $3,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Delos Wealth Advisors LLC grew its stake in Abbott Laboratories by 100.9% in the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 116 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in Abbott Laboratories in the first quarter valued at approximately $30,000. Bourgeon Capital Management LLC bought a new position in Abbott Laboratories in the first quarter valued at approximately $30,000. Dravo Bay LLC bought a new position in Abbott Laboratories in the first quarter valued at approximately $32,000. Finally, Holloway Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 175.0% during the 1st quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.

Abbott Laboratories Stock Down 1.5 %

NYSE:ABT traded down $1.51 on Friday, hitting $99.56. The stock had a trading volume of 214,423 shares, compared to its average volume of 4,955,861. The business’s fifty day moving average is $107.10 and its 200 day moving average is $111.67. The company has a market cap of $174.35 billion, a PE ratio of 21.10, a P/E/G ratio of 3.73 and a beta of 0.72. The company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 0.46. Abbott Laboratories has a 52 week low of $99.85 and a 52 week high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.34. The business had revenue of $11.26 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, equities research analysts expect that Abbott Laboratories will post 4.99 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is presently 39.25%.

Insider Activity

In other news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total value of $5,457,000.00. Following the transaction, the director now owns 6,923,500 shares in the company, valued at $755,630,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the completion of the sale, the director now directly owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert B. Ford sold 102,425 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $105.10, for a total value of $10,764,867.50. Following the sale, the chief executive officer now directly owns 142,071 shares of the company’s stock, valued at $14,931,662.10. The disclosure for this sale can be found here. Insiders have sold 204,788 shares of company stock worth $21,776,756 over the last 90 days. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Evercore ISI reduced their price target on Abbott Laboratories to $112.00 in a research note on Friday, July 22nd. BTIG Research cut their target price on Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Stifel Nicolaus cut their target price on Abbott Laboratories from $136.00 to $126.00 in a research report on Monday, July 18th. Wolfe Research started coverage on Abbott Laboratories in a report on Tuesday, July 5th. They set an “underperform” rating for the company. Finally, Cowen lowered their price target on Abbott Laboratories from $150.00 to $130.00 in a report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.46.

Abbott Laboratories Company Profile

(Get Rating)

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 Established Pharmaceutical Products segment 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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