Cannell Peter B & Co. Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 15.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,181,860 shares of the healthcare product maker’s stock after selling 220,875 shares during the quarter. Abbott Laboratories comprises 2.0% of Cannell Peter B & Co. Inc.’s holdings, making the stock its 11th largest holding. Cannell Peter B & Co. Inc. owned about 0.07% of Abbott Laboratories worth $57,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Villere ST Denis J & Co. LLC lifted its stake in shares of Abbott Laboratories by 2.3% in the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after acquiring an additional 5,950 shares during the period. Private Bank & Trust Co. lifted its stake in Abbott Laboratories by 12.3% in the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock valued at $1,473,000 after buying an additional 3,330 shares during the period. Gratus Capital LLC lifted its stake in Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after buying an additional 1,869 shares during the period. Comerica Securities Inc. acquired a new position in Abbott Laboratories in the first quarter valued at approximately $2,833,000. Finally, AQR Capital Management LLC lifted its stake in Abbott Laboratories by 264.8% in the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after buying an additional 460,477 shares during the period. 71.01% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on ABT shares. ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Stifel Nicolaus upped their target price on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 target price on shares of Abbott Laboratories in a research report on Friday, September 1st. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, October 31st. Finally, Cowen reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 17th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $56.81.
Shares of Abbott Laboratories (NYSE:ABT) traded up $0.03 during trading on Thursday, reaching $54.69. The company had a trading volume of 4,421,939 shares, compared to its average volume of 6,601,102. The company has a market capitalization of $95,210.00, a P/E ratio of 22.73, a P/E/G ratio of 2.05 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 1-year low of $37.90 and a 1-year high of $56.69.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. sell-side analysts anticipate that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.94%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 87.60%.
In other news, insider Sharon J. Bracken sold 2,188 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total transaction of $122,790.56. Following the completion of the transaction, the insider now owns 25,618 shares in the company, valued at approximately $1,437,682.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the sale, the executive vice president now directly owns 142,082 shares in the company, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. Insiders sold a total of 311,127 shares of company stock valued at $16,958,579 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.
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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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