Oakbrook Investments LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 47.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,521 shares of the healthcare product maker’s stock after selling 62,740 shares during the period. Oakbrook Investments LLC’s holdings in Abbott Laboratories were worth $3,710,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Villere ST Denis J & Co. LLC lifted its position in Abbott Laboratories by 2.3% during the 2nd quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock valued at $13,037,000 after acquiring an additional 5,950 shares during the period. Private Bank & Trust Co. lifted its position in Abbott Laboratories by 12.3% during the 2nd quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock valued at $1,473,000 after acquiring an additional 3,330 shares during the period. Gratus Capital LLC lifted its position in Abbott Laboratories by 0.9% during the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after acquiring an additional 1,869 shares during the period. Comerica Securities Inc. purchased a new position in Abbott Laboratories during the 1st quarter valued at about $2,833,000. Finally, AQR Capital Management LLC lifted its position in Abbott Laboratories by 264.8% during the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after acquiring an additional 460,477 shares during the period. 71.15% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories (NYSE ABT) traded up $0.12 on Thursday, hitting $58.95. 4,240,000 shares of the stock traded hands, compared to its average volume of 6,600,000. 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 $39.25 and a 1 year high of $59.60. The stock has a market capitalization of $102,610.00, a PE ratio of 48.72, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. equities analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is presently 87.60%.
A number of research analysts recently issued reports on the stock. Barclays reissued a “buy” rating and set a $66.00 price target on shares of Abbott Laboratories in a research report on Monday. Royal Bank of Canada reissued a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research report on Tuesday. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, January 2nd. Evercore ISI assumed coverage on shares of Abbott Laboratories in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price for the company. Finally, Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price for the company in a report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $60.24.
In related news, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total transaction of $3,913,635.00. Following the completion of the sale, the insider now directly owns 144,955 shares in the company, valued at $7,972,525. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the sale, the insider now owns 10,256 shares of the company’s stock, valued at $572,900.16. The disclosure for this sale can be found here. Insiders have sold 501,172 shares of company stock valued at $27,533,150 over the last three months. 0.76% of the stock is owned by corporate insiders.
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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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