Genesee Valley Trust Co. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 56.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,083 shares of the healthcare product maker’s stock after selling 10,501 shares during the quarter. Genesee Valley Trust Co.’s holdings in Abbott Laboratories were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in ABT. Rowland & Co. Investment Counsel ADV acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $102,000. Heritage Trust Co increased its position in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after acquiring an additional 200 shares during the period. Tributary Capital Management LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at approximately $106,000. Thompson Davis & CO. Inc. increased its position in Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after acquiring an additional 370 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $133,000. Institutional investors and hedge funds own 72.46% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) opened at $62.59 on Friday. The stock has a market capitalization of $109,774.55, a price-to-earnings ratio of 240.74, a PEG ratio of 1.87 and a beta of 1.52. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. sell-side analysts expect that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.79%. Abbott Laboratories’s dividend payout ratio is 430.79%.
In related news, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction on Wednesday, January 31st. The stock was 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 directly owns 156,587 shares in the company, valued at $9,749,106.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jared Watkin sold 996 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $58.87, for a total value of $58,634.52. Following the sale, the senior vice president now owns 69,511 shares of the company’s stock, valued at $4,092,112.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,261 shares of company stock valued at $7,559,987. 0.76% of the stock is owned by corporate insiders.
Several research firms recently commented on ABT. Leerink Swann restated a “market perform” rating and issued a $68.00 target price (up from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Bank of America raised their target price on Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Evercore ISI started coverage on Abbott Laboratories in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price target for the company. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $65.47.
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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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