Exencial Wealth Advisors LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 34.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,787 shares of the healthcare product maker’s stock after selling 22,897 shares during the period. Exencial Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,283,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Heritage Trust Co grew its position in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Tributary Capital Management LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at $106,000. Winfield Associates Inc. grew its position in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. Hedge funds and other institutional investors own 71.19% of the company’s stock.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Tuesday, October 3rd. BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $58.00 to $65.00 in a report on Tuesday, December 12th. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Jefferies Group reaffirmed a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 19th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $60.24.
Shares of Abbott Laboratories (ABT) opened at $58.44 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The firm has a market cap of $102,416.96, a price-to-earnings ratio of 46.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.06. Abbott Laboratories has a one year low of $39.25 and a one year high of $59.60.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. equities analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.28 dividend. The ex-dividend date is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.92%. Abbott Laboratories’s payout ratio is currently 88.19%.
In other news, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the transaction, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sharon J. Bracken sold 2,188 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the transaction, the insider now directly owns 25,618 shares of the company’s stock, valued at $1,437,682.16. 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 three months. 0.76% of the stock is currently owned by insiders.
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About Abbott Laboratories
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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