Iron Financial LLC Has $369,000 Holdings in Abbott Laboratories (NYSE:ABT)

Iron Financial LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,615 shares of the healthcare product maker’s stock after selling 168 shares during the quarter. Iron Financial LLC’s holdings in Abbott Laboratories were worth $369,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its holdings in Abbott Laboratories by 3.8% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after buying an additional 116 shares during the period. M&R Capital Management Inc. increased its holdings in Abbott Laboratories by 0.5% in the 2nd quarter. M&R Capital Management Inc. now owns 26,084 shares of the healthcare product maker’s stock valued at $2,193,000 after buying an additional 126 shares during the period. Advantage Investment Management LLC increased its holdings in Abbott Laboratories by 4.6% in the 2nd quarter. Advantage Investment Management LLC now owns 2,906 shares of the healthcare product maker’s stock valued at $244,000 after buying an additional 128 shares during the period. Hayden Royal LLC grew its holdings in shares of Abbott Laboratories by 2.7% in the 2nd quarter. Hayden Royal LLC now owns 4,992 shares of the healthcare product maker’s stock worth $428,000 after purchasing an additional 129 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its holdings in shares of Abbott Laboratories by 0.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 19,014 shares of the healthcare product maker’s stock worth $1,599,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 73.42% of the company’s stock.

In other Abbott Laboratories news, insider Randel William Woodgrift sold 65,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the sale, the insider now owns 117,562 shares of the company’s stock, valued at approximately $10,346,631.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sally E. Blount sold 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the sale, the director now directly owns 26,266 shares in the company, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 885,102 shares of company stock worth $71,110,429. Insiders own 0.70% of the company’s stock.



NYSE:ABT traded up $0.84 during mid-day trading on Friday, reaching $84.78. 5,496,100 shares of the company were exchanged, compared to its average volume of 5,113,646. Abbott Laboratories has a 12 month low of $64.03 and a 12 month high of $88.76. The company has a fifty day moving average of $85.81 and a 200 day moving average of $79.81. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The stock has a market cap of $149.84 billion, a PE ratio of 29.44, a PEG ratio of 2.36 and a beta of 1.12.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

Several research firms have recently weighed in on ABT. Raymond James upped their target price on shares of Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Friday, June 7th. Cowen upped their target price on shares of Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. BMO Capital Markets upped their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and an average target price of $85.82.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

See Also: What is the Federal Reserve?

Institutional Ownership by Quarter 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.