Hendley & Co. Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,745 shares of the healthcare product maker’s stock after selling 2,356 shares during the quarter. Abbott Laboratories accounts for about 1.5% of Hendley & Co. Inc.’s holdings, making the stock its 28th biggest position. Hendley & Co. Inc.’s holdings in Abbott Laboratories were worth $2,708,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Fox Run Management L.L.C. raised its position in shares of Abbott Laboratories by 122.4% during the 3rd quarter. Fox Run Management L.L.C. now owns 12,900 shares of the healthcare product maker’s stock worth $688,000 after purchasing an additional 7,100 shares during the last quarter. Sageworth Trust Co raised its holdings in Abbott Laboratories by 10.3% in the 3rd quarter. Sageworth Trust Co now owns 111,953 shares of the healthcare product maker’s stock valued at $5,974,000 after acquiring an additional 10,446 shares during the last quarter. Bartlett & Co. LLC raised its holdings in Abbott Laboratories by 0.7% in the 3rd quarter. Bartlett & Co. LLC now owns 897,160 shares of the healthcare product maker’s stock valued at $47,872,000 after acquiring an additional 6,391 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Abbott Laboratories by 0.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 147,010 shares of the healthcare product maker’s stock valued at $7,844,000 after acquiring an additional 1,269 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in Abbott Laboratories by 0.5% in the 3rd quarter. Whittier Trust Co. now owns 407,819 shares of the healthcare product maker’s stock valued at $21,761,000 after acquiring an additional 2,078 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors.
ABT has been the subject of several analyst reports. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. assumed coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They set a “neutral” rating and a $60.00 price objective for the company. Royal Bank of Canada reissued a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Finally, Cowen set a $68.00 price target on shares of Abbott Laboratories and gave the stock a “buy” rating in a research report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.24.
In other news, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total value of $3,913,635.00. Following the completion of the transaction, the insider now directly owns 144,955 shares in the company, valued at $7,972,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was 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 sold 501,172 shares of company stock valued at $27,533,150 over the last quarter. Insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) traded down $0.11 on Friday, reaching $58.84. 6,320,000 shares of the company traded hands, compared to its average volume of 6,520,000. The firm has a market capitalization of $102,420.00, a price-to-earnings ratio of 48.63, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. Abbott Laboratories has a 52-week low of $39.25 and a 52-week high of $59.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last announced its quarterly 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. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter last year, the business earned $0.59 earnings per share. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. equities analysts anticipate that Abbott Laboratories will post 2.5 EPS 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 $0.28 dividend. The ex-dividend date is Thursday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is 92.56%.
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Abbott Laboratories Company 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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