Haverford Trust Co. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,432 shares of the healthcare product maker’s stock after selling 5,918 shares during the quarter. Haverford Trust Co.’s holdings in Abbott Laboratories were worth $6,981,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Manchester Financial Inc. acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $30,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $33,000. 1 North Wealth Services LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $38,000. Marquette Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 173.4% during the 3rd quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after purchasing an additional 300 shares in the last quarter. Finally, Pearl River Capital LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $41,000. Institutional investors own 73.77% of the company’s stock.
Shares of Abbott Laboratories stock traded up $0.35 on Friday, reaching $83.74. 3,448,422 shares of the company were exchanged, compared to its average volume of 5,339,424. Abbott Laboratories has a one year low of $65.44 and a one year high of $88.76. The company has a market capitalization of $145.61 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.38 and a beta of 1.13. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $82.03 and a 200 day moving average of $82.21.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.84. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 3.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s payout ratio is presently 44.44%.
In related news, SVP Joseph J. Manning sold 47,226 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the transaction, the senior vice president now directly owns 97,755 shares of the company’s stock, valued at approximately $8,322,860.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randel William Woodgrift sold 21,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the transaction, the senior vice president now directly owns 68,562 shares in the company, valued at $5,521,983.48. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on ABT shares. Credit Suisse Group lifted their price objective on Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Raymond James cut their price objective on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Morgan Stanley lifted their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a report on Wednesday, August 21st. Finally, Cowen lifted their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $87.61.
Abbott Laboratories Company 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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