ARGI Investment Services LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 72.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,857 shares of the healthcare product maker’s stock after selling 26,282 shares during the period. ARGI Investment Services LLC’s holdings in Abbott Laboratories were worth $480,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ABT. State Street Corp lifted its stake in shares of Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after purchasing an additional 12,806,535 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Abbott Laboratories by 11.0% during the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after acquiring an additional 3,344,508 shares during the last quarter. Boston Partners lifted its stake in shares of Abbott Laboratories by 28.1% during the 2nd quarter. Boston Partners now owns 10,516,502 shares of the healthcare product maker’s stock worth $511,207,000 after acquiring an additional 2,304,467 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Abbott Laboratories by 33.8% during the 1st quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock worth $391,841,000 after acquiring an additional 2,231,316 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Abbott Laboratories by 45.3% during the 1st quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock worth $289,943,000 after acquiring an additional 2,035,170 shares during the last quarter. 69.99% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the transaction, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jaime Contreras sold 52,700 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders sold 282,920 shares of company stock worth $15,389,766 in the last three months. 0.76% of the stock is currently owned by corporate insiders.
ABT has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a report on Friday, September 1st. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, October 31st. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $56.81.
Abbott Laboratories (NYSE:ABT) opened at $55.56 on Monday. The company has a market capitalization of $96,710.00, a price-to-earnings ratio of 23.05, a P/E/G ratio of 2.08 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a twelve month low of $37.38 and a twelve month high of $56.69.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. equities analysts expect that Abbott Laboratories will post 2.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 87.60%.
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Abbott Laboratories Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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