Trade Report: The Nadler Financial Group Inc. Reached $502,000 position of Abbott Laboratories (ABT)

The Nadler Financial Group Inc. Reached $502,000 position  of Abbott Laboratories (ABT)

Nadler Financial Group Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 9.1% during the third quarter, Holdings Channel reports. The fund owned 11,868 shares of the healthcare product maker’s stock after buying an additional 988 shares during the period. Nadler Financial Group Inc.’s holdings in Abbott Laboratories were worth $502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Catawba Capital Management VA boosted its position in Abbott Laboratories by 15.6% in the third quarter. Catawba Capital Management VA now owns 40,686 shares of the healthcare product maker’s stock worth $1,721,000 after buying an additional 5,495 shares during the last quarter. Stokes & Hubbell Capital Management LLC boosted its position in Abbott Laboratories by 1.5% in the third quarter. Stokes & Hubbell Capital Management LLC now owns 46,058 shares of the healthcare product maker’s stock worth $1,948,000 after buying an additional 679 shares during the last quarter. Pure Financial Advisors Inc. boosted its position in Abbott Laboratories by 0.4% in the third quarter. Pure Financial Advisors Inc. now owns 10,893 shares of the healthcare product maker’s stock worth $461,000 after buying an additional 38 shares during the last quarter. First American Bank boosted its position in Abbott Laboratories by 7.9% in the third quarter. First American Bank now owns 17,843 shares of the healthcare product maker’s stock worth $754,000 after buying an additional 1,308 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. boosted its position in Abbott Laboratories by 5.7% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 16,995 shares of the healthcare product maker’s stock worth $718,000 after buying an additional 921 shares in the last quarter. 72.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories (NYSE:ABT) traded up 0.46% during midday trading on Friday, hitting $39.16. The company’s stock had a trading volume of 2,733,423 shares. The firm has a market cap of $57.66 billion, a price-to-earnings ratio of 42.75 and a beta of 0.94. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.22. The firm has a 50-day moving average of $40.11 and a 200 day moving average of $40.95.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a return on equity of 15.46% and a net margin of 6.61%. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the previous year, the business earned $0.54 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Abbott Laboratories will post $2.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Wednesday, October 12th. Abbott Laboratories’s payout ratio is currently 114.29%.

A number of research firms recently commented on ABT. Bank of America Corp. reissued a “buy” rating and issued a $50.00 price target on shares of Abbott Laboratories in a report on Friday, August 12th. Deutsche Bank AG reissued a “buy” rating on shares of Abbott Laboratories in a report on Tuesday, August 9th. Jefferies Group boosted their price target on Abbott Laboratories from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. BTIG Research reissued a “buy” rating and issued a $45.00 price target on shares of Abbott Laboratories in a report on Wednesday, August 10th. Finally, TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $47.02.

In other news, Chairman Miles D. White bought 121,456 shares of Abbott Laboratories stock in a transaction dated Thursday, November 10th. The stock was acquired at an average cost of $40.45 per share, with a total value of $4,912,895.20. Following the acquisition, the chairman now owns 2,802,558 shares of the company’s stock, valued at $113,363,471.10. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $41.71, for a total value of $33,993.65. Following the completion of the sale, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

About Abbott Laboratories

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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