Eos Focused Equity Management L.P. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 20.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,187 shares of the healthcare product maker’s stock after selling 16,482 shares during the period. Abbott Laboratories accounts for 5.1% of Eos Focused Equity Management L.P.’s portfolio, making the stock its 7th largest holding. Eos Focused Equity Management L.P.’s holdings in Abbott Laboratories were worth $3,425,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in ABT. Vanguard Group Inc. grew its stake in Abbott Laboratories by 2.6% during the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after acquiring an additional 3,241,063 shares in the last quarter. Capital Research Global Investors grew its stake in Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after acquiring an additional 14,918,038 shares in the last quarter. Northern Trust Corp grew its stake in Abbott Laboratories by 3.1% during the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after acquiring an additional 809,732 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after acquiring an additional 2,606,404 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Abbott Laboratories by 7.7% during the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock valued at $564,222,000 after acquiring an additional 830,610 shares in the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.
In related news, insider Brian J. Blaser sold 27,733 shares of Abbott Laboratories stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the completion of the sale, the insider now owns 156,587 shares in the company, valued at approximately $9,749,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen R. Fussell sold 13,313 shares of Abbott Laboratories stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the sale, the executive vice president now owns 152,343 shares of the company’s stock, valued at approximately $9,573,234.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 445,615 shares of company stock valued at $24,666,341. 0.76% of the stock is owned by corporate insiders.
ABT has been the subject of several research analyst reports. ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays reaffirmed a “buy” rating and set a $66.00 target price on shares of Abbott Laboratories in a research note on Monday, January 8th. BTIG Research cut shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. They noted that the move was a valuation call. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, 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 research note on Tuesday, October 31st. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.47.
Abbott Laboratories (ABT) traded up $0.24 during mid-day trading on Monday, hitting $57.41. 8,232,063 shares of the company were exchanged, 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 debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The stock has a market cap of $99,930.00, a PE ratio of 287.05, a PEG ratio of 1.72 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same period in the previous year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. equities research analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors 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 is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.95%. Abbott Laboratories’s payout ratio is currently 560.00%.
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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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