747 Shares in Abbott Laboratories (NYSE:ABT) Bought by Parisi Gray Wealth Management

Parisi Gray Wealth Management purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 747 shares of the healthcare product maker’s stock, valued at approximately $87,000.

A number of other large investors have also bought and sold shares of the business. Main Street Financial Solutions LLC raised its holdings in Abbott Laboratories by 1.3% during the second quarter. Main Street Financial Solutions LLC now owns 6,490 shares of the healthcare product maker’s stock valued at $752,000 after acquiring an additional 83 shares during the period. Glassman Wealth Services grew its position in shares of Abbott Laboratories by 6.2% during the second quarter. Glassman Wealth Services now owns 1,479 shares of the healthcare product maker’s stock valued at $171,000 after purchasing an additional 86 shares in the last quarter. 44 Wealth Management LLC grew its position in shares of Abbott Laboratories by 4.5% during the second quarter. 44 Wealth Management LLC now owns 2,042 shares of the healthcare product maker’s stock valued at $237,000 after purchasing an additional 87 shares in the last quarter. Intrust Bank NA grew its position in shares of Abbott Laboratories by 0.4% during the second quarter. Intrust Bank NA now owns 25,447 shares of the healthcare product maker’s stock valued at $2,950,000 after purchasing an additional 89 shares in the last quarter. Finally, Eads & Heald Wealth Management grew its position in shares of Abbott Laboratories by 0.5% during the second quarter. Eads & Heald Wealth Management now owns 17,580 shares of the healthcare product maker’s stock valued at $2,038,000 after purchasing an additional 90 shares in the last quarter. 72.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ABT opened at $117.00 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36. The company has a market cap of $207.42 billion, a P/E ratio of 32.96, a PEG ratio of 2.45 and a beta of 0.66. Abbott Laboratories has a 1 year low of $103.13 and a 1 year high of $129.70. The firm has a 50-day simple moving average of $123.59 and a two-hundred day simple moving average of $119.60.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.15. The business had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $9.67 billion. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 4.42 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, October 14th. Abbott Laboratories’s dividend payout ratio is presently 49.32%.

In other news, SVP Sammy Karam sold 8,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Randel William Woodgrift sold 6,350 shares of the business’s stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $129.00, for a total transaction of $819,150.00. Following the completion of the transaction, the senior vice president now directly owns 50,093 shares of the company’s stock, valued at approximately $6,461,997. The disclosure for this sale can be found here. Insiders have sold 222,883 shares of company stock valued at $27,964,400 in the last ninety days. Insiders own 1.50% of the company’s stock.

ABT has been the subject of a number of research analyst reports. Cowen restated a “buy” rating and set a $140.00 price objective on shares of Abbott Laboratories in a research report on Friday, October 8th. Morgan Stanley raised their price objective on Abbott Laboratories from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, July 23rd. Raymond James raised their price objective on Abbott Laboratories from $116.00 to $128.00 and gave the company an “outperform” rating in a research report on Friday, July 23rd. Citigroup lifted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, October 1st. Finally, BTIG Research lifted their price target on Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, August 31st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $130.38.

About Abbott Laboratories

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.

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

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