Hollencrest Capital Management Purchases 269 Shares of Abbott Laboratories (NYSE:ABT)

Hollencrest Capital Management grew its position in Abbott Laboratories (NYSE:ABT) by 7.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,062 shares of the healthcare product maker’s stock after acquiring an additional 269 shares during the period. Hollencrest Capital Management’s holdings in Abbott Laboratories were worth $342,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Front Row Advisors LLC raised its position in Abbott Laboratories by 790.9% during the 1st quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after purchasing an additional 348 shares during the last quarter. Weaver Consulting Group bought a new position in Abbott Laboratories during the 1st quarter worth $33,000. Beacon Capital Management Inc. bought a new position in Abbott Laboratories during the 1st quarter worth $38,000. Clarfeld Financial Advisors LLC bought a new position in Abbott Laboratories during the 4th quarter worth $43,000. Finally, Investors Research Corp bought a new position in Abbott Laboratories during the 1st quarter worth $44,000. Institutional investors own 73.42% of the company’s stock.

Several research analysts recently issued reports on the company. Jefferies Financial Group lowered Alcoa from a “buy” rating to a “hold” rating and lowered their target price for the stock from $29.00 to $23.00 in a research report on Thursday, July 18th. BMO Capital Markets lowered their price objective on Comerica to $78.00 and set a “market perform” rating for the company in a research report on Thursday, July 18th. Raymond James lowered their price objective on SM Energy from $20.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Wells Fargo & Co reissued a “hold” rating on shares of Medidata Solutions in a research report on Thursday, June 13th. Finally, Royal Bank of Canada lifted their price objective on Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. 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 a consensus rating of “Buy” and a consensus price target of $85.82.

Shares of ABT traded down $0.06 during trading hours on Monday, hitting $87.69. The stock had a trading volume of 13,033 shares, compared to its average volume of 4,552,908. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $84.44. The firm has a market cap of $154.81 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.47 and a beta of 1.10. Abbott Laboratories has a 1-year low of $63.07 and a 1-year high of $88.76.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a return on equity of 17.39% and a net margin of 9.36%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.73 EPS. On average, research analysts forecast that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.46%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

In other Abbott Laboratories news, insider Randel William Woodgrift sold 65,000 shares of Abbott Laboratories stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the transaction, the insider now owns 117,562 shares in the company, valued at approximately $10,346,631.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of Abbott Laboratories stock in a transaction dated 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 transaction, the executive vice president now owns 167,148 shares of the company’s stock, valued at approximately $14,040,432. The disclosure for this sale can be found here. Insiders have sold a total of 1,125,260 shares of company stock valued at $89,443,361 in the last quarter. Company insiders own 0.70% of the company’s stock.

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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