Knights of Columbus Asset Advisors LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 37.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,109 shares of the healthcare product maker’s stock after selling 14,000 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Abbott Laboratories were worth $1,233,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanders Morris Harris LLC raised its stake in shares of Abbott Laboratories by 0.3% during the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after buying an additional 16 shares during the last quarter. St. Louis Trust Co raised its stake in shares of Abbott Laboratories by 0.4% during the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after buying an additional 20 shares during the last quarter. Lakeview Capital Partners LLC raised its stake in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after buying an additional 33 shares during the last quarter. Johanson Financial Advisors Inc. raised its stake in shares of Abbott Laboratories by 0.5% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after buying an additional 37 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY raised its stake in shares of Abbott Laboratories by 0.3% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 16,511 shares of the healthcare product maker’s stock valued at $803,000 after buying an additional 56 shares during the last quarter. 70.61% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the company. Wells Fargo & Co raised their target price on Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Zacks Investment Research cut 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 restated a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a report on Thursday, October 19th. Finally, Morgan Stanley upgraded Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price on the stock in a report on Tuesday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $65.47.
In other Abbott Laboratories news, EVP Stephen R. Fussell sold 13,313 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total value of $836,588.92. Following the completion of the transaction, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total transaction of $3,913,635.00. Following the completion of the transaction, the insider now directly owns 144,955 shares of the company’s stock, valued at $7,972,525. The disclosure for this sale can be found here. Insiders sold 445,615 shares of company stock valued at $24,666,341 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE ABT) traded up $0.24 during midday trading on Monday, reaching $57.41. 8,232,063 shares of the company’s stock traded hands, compared to its average volume of 7,750,000. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a one year low of $42.31 and a one year high of $64.60. The firm has a market capitalization of $99,930.00, a P/E 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 data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Abbott Laboratories’s revenue for the quarter was up 42.3% on a year-over-year basis. sell-side analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current year.
The firm 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is presently 560.00%.
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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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