Home Federal Bank of Tennessee Raises Holdings in Abbott Laboratories (NYSE:ABT)

Home Federal Bank of Tennessee increased its position in Abbott Laboratories (NYSE:ABTGet Rating) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,565 shares of the healthcare product maker’s stock after buying an additional 155 shares during the quarter. Abbott Laboratories comprises about 0.8% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 22nd biggest position. Home Federal Bank of Tennessee’s holdings in Abbott Laboratories were worth $2,126,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Delos Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 100.9% in the 4th quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 116 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in Abbott Laboratories in the 1st quarter valued at $30,000. Bourgeon Capital Management LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $30,000. Dravo Bay LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $32,000. Finally, Holloway Wealth Management LLC increased its holdings in Abbott Laboratories by 175.0% in the 1st quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 175 shares in the last quarter. 73.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In related news, EVP Joseph J. Manning sold 23,008 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $107.00, for a total value of $2,461,856.00. Following the sale, the executive vice president now owns 53,245 shares of the company’s stock, valued at $5,697,215. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Abbott Laboratories news, SVP Fernando Mateus sold 2,457 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $109.05, for a total transaction of $267,935.85. Following the sale, the senior vice president now directly owns 14,503 shares of the company’s stock, valued at $1,581,552.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph J. Manning sold 23,008 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the sale, the executive vice president now directly owns 53,245 shares in the company, valued at $5,697,215. The disclosure for this sale can be found here. Insiders have sold a total of 204,788 shares of company stock valued at $21,776,756 over the last quarter. 0.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Abbott Laboratories from $143.00 to $132.00 in a report on Thursday, July 21st. Evercore ISI lowered their target price on Abbott Laboratories to $112.00 in a research note on Friday, July 22nd. Wolfe Research started coverage on Abbott Laboratories in a research note on Tuesday, July 5th. They issued an “underperform” rating for the company. BTIG Research cut their target price on shares of Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Finally, Cowen cut their target price on shares of Abbott Laboratories from $150.00 to $130.00 in a report on Wednesday, July 13th. One research 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.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $132.46.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $1.16 on Friday, hitting $99.91. 339,819 shares of the company were exchanged, compared to its average volume of 4,955,861. The company’s 50 day moving average price is $107.10 and its two-hundred day moving average price is $111.67. Abbott Laboratories has a one year low of $99.85 and a one year high of $142.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.54 and a current ratio of 2.01. The firm has a market capitalization of $174.96 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 3.73 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its quarterly earnings data 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. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The company had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 4.99 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories 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.

Further Reading

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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