Gradient Investments LLC cut its stake in ABB Ltd (NYSE:ABBNY – Free Report) by 93.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 826 shares of the industrial products company’s stock after selling 12,568 shares during the period. Gradient Investments LLC’s holdings in ABB were worth $28,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of ABB by 8.1% during the 1st quarter. BlackRock Inc. now owns 997,550 shares of the industrial products company’s stock worth $32,261,000 after acquiring an additional 74,433 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of ABB by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 55,264 shares of the industrial products company’s stock worth $1,787,000 after acquiring an additional 581 shares during the period. Sei Investments Co. lifted its holdings in shares of ABB by 20.6% during the 1st quarter. Sei Investments Co. now owns 20,326 shares of the industrial products company’s stock worth $653,000 after acquiring an additional 3,473 shares during the period. Cetera Investment Advisers lifted its holdings in shares of ABB by 5.5% during the 1st quarter. Cetera Investment Advisers now owns 7,404 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 384 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of ABB by 50.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,579 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 2,887 shares during the period. 5.02% of the stock is owned by institutional investors.
ABB Stock Down 1.5 %
ABB stock opened at $38.25 on Friday. The company’s 50 day simple moving average is $36.95 and its 200 day simple moving average is $34.29. ABB Ltd has a fifty-two week low of $24.27 and a fifty-two week high of $39.82. The firm has a market capitalization of $75.15 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.15 and a quick ratio of 0.80.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on shares of ABB in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ABB presently has an average rating of “Hold” and an average price target of $28.68.
About ABB
ABB Ltd manufactures and sells electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboards and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
Featured Stories
- Five stocks we like better than ABB
- Is it Time To Ring The Register On Paychex?
- Micron Technology: A Reversal Is Imminent
- Can Topgolf Callaway Brands Crawl Out of the Bunker and Rally?
- McCormick Rebound Imminent: Executive Transition Complete
- 3 Reasons Boston Beer Stock Could Finally Hop Higher
Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.
