Brookstone Capital Management, a prominent investment firm, has disclosed in its recent filing with the Securities & Exchange Commission that it has significantly increased its holdings in Abbott Laboratories (NYSE:ABT). According to the filing, Brookstone Capital Management raised its position in shares of the healthcare product maker by 7.8% during the second quarter of this year. As a result, the firm now holds 36,687 shares of Abbott Laboratories’ stock, representing an additional 2,661 shares purchased during this period. The total value of Brookstone Capital Management’s holdings in Abbott Laboratories stands at $3,902,000 as of the end of the most recent quarter.
Abbott Laboratories is a renowned healthcare company listed on the New York Stock Exchange (NYSE) under the ticker symbol ABT. The company’s stock began trading at $100.99 on Tuesday. With a market capitalization amounting to $175.25 billion and a price-to-earnings ratio of 34.47, Abbott Laboratories demonstrates its robust presence in the industry.
Additionally, Abbott Laboratories boasts an impressive beta value of 0.68, indicating that it is relatively less volatile compared to the broader market. The lower beta highlights its stability and less fluctuation in returns over time.
In terms of financial ratios, Abbott Laboratories exhibits a current ratio of 1.64 and a quick ratio of 1.16. These metrics signify the company’s ability to meet short-term obligations effortlessly while maintaining sufficient liquidity for operational needs.
Furthermore, Abbott Laboratories maintains a favorable debt-to-equity ratio of 0.39, which indicates prudent management of capital structure and reasonable reliance on borrowed funds for financing activities.
The stock’s performance over the past year reveals that Abbott Laboratories experienced both highs and lows within this timeframe. Its lowest point was recorded at $93.25 per share while reaching its peak at $115.83 per share during this period. This fluctuation indicates the presence of market dynamics that may have affected the stock’s valuation.
Analyzing the recent trend, Abbott Laboratories’ 50-day moving average price stands at $106.17, indicating its average closing price over the past 50 trading days. Similarly, its two-hundred day moving average price comes in at $105.24, portraying the significant trends observed over a more extended period.
Investors and market participants closely monitor these moving averages as they provide insights into potential trends and help make informed decisions regarding investment opportunities.
In summary, Brookstone Capital Management’s increased holdings in Abbott Laboratories highlight their confidence and belief in the healthcare company’s future prospects. With an impressive track record and solid financial ratios, Abbott Laboratories continues to demonstrate resilience in an ever-evolving market. As investors monitor the stock’s performance closely, it remains to be seen how Abbott Laboratories will navigate industry challenges and leverage opportunities for sustained growth and profitability.
Please note that this article is based on reference data from September 19, 2023, and financial information is subject to change over time.
TechnipFMC plc
FTI
Buy
Updated on: 19/09/2023
Healthy 
Price to earnings ratio: Strong Sell 
Institutional Investors and Hedge Funds Show Interest in Abbott Laboratories as Director and EVP Sell Stock
On September 19, 2023, it has been reported that several institutional investors and hedge funds have recently bought and sold shares of Abbott Laboratories (NYSE:ABT), a leading healthcare product maker. Investment Advisory Services Inc. TX ADV raised its position in the company’s shares by 0.4% during the first quarter. They now own 22,785 shares of Abbott Laboratories, valued at $2,307,000 after purchasing an additional 93 shares. Similarly, Patriot Investment Management Group Inc. raised its holdings in Abbott Laboratories by 3.1% in the fourth quarter, now owning 3,236 shares valued at $356,000 after acquiring an additional 96 shares.
Delta Financial Group Inc. also increased its position in Abbott Laboratories by 1.5% during the first quarter, now owning 6,475 shares valued at $656,000 after acquiring an additional 96 shares in the last quarter. Trifecta Capital Advisors LLC saw a growth of its position by 21.2% during the same period and currently owns 548 shares worth $55,000 after acquiring an additional 96 shares.
Capital City Trust Co. FL also expanded its stake in Abbott Laboratories by 2.1% during the first quarter and currently owns 4,638 shares worth $470,000 after buying an additional 97 shares during that period. In total, institutional investors now own approximately 73.70% of the company’s stock.
In other news regarding Abbott Laboratories, Director Daniel J. Starks recently sold 50,000 company stock on Thursday, July 27th with an average price of $113.76 per share resulting in a total transaction value of $5,688,000. Following this sale transaction completion date where he sold all mentioned stock that included securities valuing at $770 million; Mr.Starks holds no remaining field parts referencing to this subject.
Additionally, EVP Andrea F. Wainer sold 10,400 shares of Abbott Laboratories stock on Tuesday, August 8th at an average price of $105.03 per share. The total transaction value amounted to $1,092,312. Following this sale transaction, the executive vice president now holds 65,027 shares in the company valued at approximately $6,829,785.81.
Looking into its financial performance, Abbott Laboratories last released its quarterly earnings data on Thursday, July 20th. The company reported earnings per share (EPS) of $1.08 for the quarter, surpassing analysts’ consensus estimates of $1.05 by $0.03. The business generated $9.98 billion in revenue during the quarter compared to analysts’ expectations of $9.71 billion.
Abbott Laboratories showed a net margin of 12.83% and a return on equity of 20.50%. However, the firm’s quarterly revenue was down 11.4% compared to the same quarter last year when it earned $1.43 EPS.
Analysts have commented on Abbott Laboratories recommending various actions for investors to consider based on their rating and target price projections for the stock. Barclays increased their price objective from $127 to $132 and assigned an “overweight” rating for the company in a report released on Monday, July 24th.
Similarly, Wolfe Research upgraded their rating for Abbott Laboratories from an “underperform” to a “peer perform” rating on Friday, July 21st while Morgan Stanley reiterated an “equal weight” rating with a target price of $112 for shares of Abbott Laboratories in another report issued on Friday.
On that same day in July, Mizuho raised their target price from $110 to $115 while maintaining a “neutral” rating for Abbott Laboratories stock.
Furthermore,on August 17th StockNews.com began coverage on Abbott Laboratories and assigned a “buy” rating to the company.
Based on data from Bloomberg, Abbott Laboratories currently holds a consensus rating of “Moderate Buy” and has a consensus target price of $120.82, as evaluated by five investment analysts who have rated the stock as hold. Eleven analysts have issued a buy rating for Abbott Laboratories.
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