Davidson & Garrard Inc. grew its stake in Abbott Laboratories (NYSE:ABT) by 23.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,378 shares of the healthcare product maker’s stock after purchasing an additional 5,205 shares during the period. Davidson & Garrard Inc.’s holdings in Abbott Laboratories were worth $1,461,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Gratus Capital LLC increased its holdings 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 worth $9,968,000 after purchasing an additional 1,869 shares during the period. Moody Lynn & Lieberson LLC increased its holdings in Abbott Laboratories by 17.1% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock worth $17,420,000 after purchasing an additional 47,610 shares during the period. Vantage Investment Advisors LLC increased its holdings in Abbott Laboratories by 103.4% during the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after purchasing an additional 36,683 shares during the period. Brightworth purchased a new position in Abbott Laboratories during the 3rd quarter worth $841,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in Abbott Laboratories by 1.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 112,689 shares of the healthcare product maker’s stock worth $6,013,000 after purchasing an additional 2,116 shares during the period. 71.22% of the stock is owned by institutional investors and hedge funds.
Shares of Abbott Laboratories (ABT) traded down $2.96 on Monday, reaching $58.73. The company’s stock had a trading volume of 11,550,000 shares, compared to its average volume of 7,190,000. Abbott Laboratories has a 12 month low of $42.23 and a 12 month high of $64.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $102,230.00, a PE ratio of 293.65, a P/E/G ratio of 1.87 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The firm’s revenue was up 42.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. equities research analysts predict that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is presently 560.00%.
In other Abbott Laboratories news, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction dated Wednesday, December 6th. The stock was 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 owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Blaser sold 23,866 shares of Abbott Laboratories stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the completion of the transaction, the insider now owns 146,387 shares of the company’s stock, valued at approximately $8,131,797.85. The disclosure for this sale can be found here. Insiders have sold a total of 445,615 shares of company stock valued at $24,666,341 in the last quarter. Company insiders own 0.76% of the company’s stock.
Several research firms have commented on ABT. Wells Fargo & Co raised their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. William Blair upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating in a report on Thursday, January 25th. Jefferies Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 19th. Finally, Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price on the stock in a research report on Tuesday, January 2nd. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $65.47.
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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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