Tdam USA Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 19.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,846 shares of the healthcare product maker’s stock after selling 36,960 shares during the quarter. Tdam USA Inc.’s holdings in Abbott Laboratories were worth $8,369,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ABT. Capital Investment Advisors LLC boosted its stake in Abbott Laboratories by 1.9% in the second quarter. Capital Investment Advisors LLC now owns 9,015 shares of the healthcare product maker’s stock valued at $438,000 after acquiring an additional 166 shares during the period. Family Legacy Inc. boosted its stake in Abbott Laboratories by 4.4% in the second quarter. Family Legacy Inc. now owns 4,771 shares of the healthcare product maker’s stock valued at $232,000 after acquiring an additional 200 shares during the period. Johanson Financial Advisors Inc. boosted its stake in Abbott Laboratories by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after acquiring an additional 37 shares during the period. Pure Financial Advisors Inc. boosted its stake in Abbott Laboratories by 2.8% in the second quarter. Pure Financial Advisors Inc. now owns 11,315 shares of the healthcare product maker’s stock valued at $550,000 after acquiring an additional 311 shares during the period. Finally, Carlson Capital Management acquired a new position in Abbott Laboratories in the second quarter valued at approximately $296,000. 71.19% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on ABT shares. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays restated a “buy” rating and issued a $66.00 target price on shares of Abbott Laboratories in a research note on Monday, January 8th. Stifel Nicolaus lifted their target price on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. BMO Capital Markets restated a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Finally, Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, October 31st. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $60.24.
Abbott Laboratories (ABT) opened at $59.31 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $103,235.05, a P/E ratio of 46.70, a PEG ratio of 1.89 and a beta of 1.06. Abbott Laboratories has a 52-week low of $39.25 and a 52-week high of $59.68.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.28 per share. 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 dividend yield of 1.89%. Abbott Laboratories’s payout ratio is currently 88.19%.
In other Abbott Laboratories news, insider Alejandro D. Wellisch sold 2,153 shares of the company’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 value of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares in the company, valued at $572,900.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,172 shares of company stock valued at $27,533,150. Insiders own 0.76% of the company’s stock.
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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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