Transcend Capital Advisors LLC Has $905,000 Holdings in Abbott Laboratories (NYSE:ABT)

Transcend Capital Advisors LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,705 shares of the healthcare product maker’s stock after purchasing an additional 359 shares during the period. Transcend Capital Advisors LLC’s holdings in Abbott Laboratories were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC UT increased its holdings in shares of Abbott Laboratories by 0.4% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after purchasing an additional 92 shares during the period. Rappaport Reiches Capital Management LLC increased its holdings in shares of Abbott Laboratories by 0.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after purchasing an additional 94 shares during the period. Avion Wealth increased its holdings in shares of Abbott Laboratories by 19.4% during the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after purchasing an additional 96 shares during the period. Wynn Capital LLC increased its stake in Abbott Laboratories by 2.9% in the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock valued at $390,000 after acquiring an additional 98 shares during the last quarter. Finally, Berger Financial Group Inc increased its stake in Abbott Laboratories by 3.0% in the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock valued at $377,000 after acquiring an additional 99 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Citigroup decreased their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Abbott Laboratories Trading Down 1.2 %

ABT traded down $1.32 during trading on Monday, reaching $109.99. 3,002,740 shares of the stock traded hands, compared to its average volume of 6,029,938. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $191.34 billion, a PE ratio of 34.19, a P/E/G ratio of 2.74 and a beta of 0.72. The stock’s 50-day moving average is $104.22 and its 200 day moving average is $109.00. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.00%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Abbott Laboratories Profile

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.