Whittier Trust Co. of Nevada Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 158,831 shares of the healthcare product maker’s stock after selling 2,462 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Abbott Laboratories were worth $11,488,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in shares of Abbott Laboratories by 30.2% in the third quarter. First Trust Advisors LP now owns 56,019 shares of the healthcare product maker’s stock worth $4,110,000 after acquiring an additional 12,978 shares during the period. WINTON GROUP Ltd grew its holdings in shares of Abbott Laboratories by 58.5% in the third quarter. WINTON GROUP Ltd now owns 9,540 shares of the healthcare product maker’s stock worth $700,000 after acquiring an additional 3,520 shares during the period. Flagship Harbor Advisors LLC grew its holdings in shares of Abbott Laboratories by 10.1% in the third quarter. Flagship Harbor Advisors LLC now owns 14,784 shares of the healthcare product maker’s stock worth $1,096,000 after acquiring an additional 1,351 shares during the period. Global Financial Private Capital LLC grew its holdings in shares of Abbott Laboratories by 84.2% in the third quarter. Global Financial Private Capital LLC now owns 36,292 shares of the healthcare product maker’s stock worth $2,662,000 after acquiring an additional 16,594 shares during the period. Finally, Gryphon Financial Partners LLC grew its holdings in shares of Abbott Laboratories by 2.1% in the third quarter. Gryphon Financial Partners LLC now owns 86,353 shares of the healthcare product maker’s stock worth $6,335,000 after acquiring an additional 1,796 shares during the period. 74.31% of the stock is owned by institutional investors and hedge funds.
In related news, insider Roger Bird sold 9,188 shares of Abbott Laboratories stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $79.06, for a total transaction of $726,403.28. Following the transaction, the insider now directly owns 60,195 shares in the company, valued at $4,759,016.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian B. Yoor sold 2,246 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The shares were sold at an average price of $78.00, for a total value of $175,188.00. Following the transaction, the chief financial officer now owns 116,627 shares in the company, valued at $9,096,906. The disclosure for this sale can be found here. Insiders have sold 198,669 shares of company stock worth $14,085,330 over the last quarter. 0.74% of the stock is owned by company insiders.
Several analysts recently commented on ABT shares. Bank of America reaffirmed a “buy” rating and issued a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a report on Thursday, February 7th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Monday, January 28th. Goldman Sachs Group raised Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $78.00 to $81.00 in a report on Friday, November 30th. UBS Group started coverage on Abbott Laboratories in a report on Tuesday, November 27th. They issued a “buy” rating and a $83.00 price objective for the company. Finally, Gabelli reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $79.71.
NYSE ABT opened at $79.86 on Friday. The firm has a market cap of $137.43 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.09 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.63. Abbott Laboratories has a fifty-two week low of $56.81 and a fifty-two week high of $80.15.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.82 billion. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. Abbott Laboratories’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. On average, equities research analysts anticipate that Abbott Laboratories will post 3.2 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.28 annualized dividend and a yield of 1.60%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
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Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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