Tdam USA Inc. reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 19.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Capital Investment Advisors LLC boosted its position in shares of Abbott Laboratories by 1.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 9,015 shares of the healthcare product maker’s stock worth $438,000 after purchasing an additional 166 shares in the last quarter. Family Legacy Inc. boosted its position in shares of Abbott Laboratories by 4.4% in the 2nd quarter. Family Legacy Inc. now owns 4,771 shares of the healthcare product maker’s stock worth $232,000 after purchasing an additional 200 shares in the last quarter. Johanson Financial Advisors Inc. boosted its position in shares of Abbott Laboratories by 0.5% in the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after purchasing an additional 37 shares in the last quarter. Pure Financial Advisors Inc. boosted its position in shares of Abbott Laboratories by 2.8% in the 2nd quarter. Pure Financial Advisors Inc. now owns 11,315 shares of the healthcare product maker’s stock worth $550,000 after purchasing an additional 311 shares in the last quarter. Finally, Carlson Capital Management acquired a new stake in shares of Abbott Laboratories in the 2nd quarter worth $296,000. Institutional investors own 70.61% of the company’s stock.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of the business’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 transaction, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Miles D. White sold 276,886 shares of the business’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 transaction, the chairman now owns 3,677,913 shares in the company, valued at $200,115,246.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 445,615 shares of company stock worth $24,666,341. Insiders own 0.76% of the company’s stock.
ABT has been the subject of a number of research reports. ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Barclays reaffirmed a “buy” rating and set a $66.00 price target on shares of Abbott Laboratories in a research report on Monday, January 8th. BTIG Research cut Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Stifel Nicolaus lifted their price target on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $65.47.
Abbott Laboratories (ABT) traded up $0.24 during trading hours on Monday, reaching $57.41. The company’s stock had a trading volume of 8,232,063 shares, compared to its average volume of 7,750,000. Abbott Laboratories has a 52 week low of $42.31 and a 52 week 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 stock has a market cap of $99,930.00, a price-to-earnings ratio of 287.05, a P/E/G ratio of 1.72 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same period in the previous year, the business earned $0.65 EPS. Abbott Laboratories’s quarterly revenue was up 42.3% on a year-over-year basis. analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current year.
The business also recently announced 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 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 1.95%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is currently 560.00%.
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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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