Tiemann Investment Advisors LLC Decreases Stock Position in Abbott Laboratories (NYSE:ABT)

Tiemann Investment Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 13,723 shares of the healthcare product maker’s stock after selling 250 shares during the period. Tiemann Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,154,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Manchester Financial Inc. acquired a new position in shares of Abbott Laboratories in the second quarter valued at about $30,000. Front Row Advisors LLC increased its holdings in shares of Abbott Laboratories by 790.9% in the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after purchasing an additional 348 shares during the period. Weaver Consulting Group acquired a new position in shares of Abbott Laboratories in the first quarter valued at about $33,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Abbott Laboratories in the second quarter valued at about $33,000. Finally, Pearl River Capital LLC acquired a new position in shares of Abbott Laboratories in the second quarter valued at about $41,000. 73.84% of the stock is currently owned by institutional investors and hedge funds.

ABT traded down $1.01 during trading on Friday, hitting $84.20. The company’s stock had a trading volume of 158,491 shares, compared to its average volume of 4,116,040. The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a twelve month low of $65.44 and a twelve month high of $88.76. The business’s fifty day simple moving average is $85.33 and its 200 day simple moving average is $81.08. The firm has a market capitalization of $147.07 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.34 and a beta of 1.14.



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, beating the consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. During the same period last year, the company earned $0.73 earnings per share. Abbott Laboratories’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.52%. Abbott Laboratories’s payout ratio is currently 44.44%.

In other Abbott Laboratories news, Director Sally E. Blount sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value of $219,125.00. Following the sale, the director now directly owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $84.00, for a total value of $5,964,000.00. Following the completion of the sale, the executive vice president now directly owns 167,148 shares in the company, valued at $14,040,432. The disclosure for this sale can be found here. Over the last three months, insiders sold 464,397 shares of company stock worth $39,677,310. 0.70% of the stock is owned by corporate insiders.

Several analysts recently commented on ABT shares. BMO Capital Markets raised their target price on Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Jefferies Financial Group raised their target price on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Raymond James raised their target price on Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley raised their target price on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Bank of America reaffirmed a “buy” rating and set a $81.00 target price on shares of Abbott Laboratories in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.38.

Abbott Laboratories Company 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.

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

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