Glenview State Bank Trust DEPT. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,394 shares of the healthcare product maker’s stock after selling 258 shares during the period. Abbott Laboratories makes up approximately 1.5% of Glenview State Bank Trust DEPT.’s holdings, making the stock its 25th largest position. Glenview State Bank Trust DEPT.’s holdings in Abbott Laboratories were worth $2,650,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Parasol Investment Management LLC raised its stake in Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock worth $101,000 after buying an additional 600 shares during the period. SeaBridge Investment Advisors LLC increased its position in Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares in the last quarter. CapWealth Advisors LLC increased its position in Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares in the last quarter. Delta Asset Management LLC TN increased its position in Abbott Laboratories by 2.8% in the second quarter. Delta Asset Management LLC TN now owns 3,695 shares of the healthcare product maker’s stock valued at $146,000 after buying an additional 100 shares in the last quarter. Finally, Cribstone Capital Management LLC purchased a new position in Abbott Laboratories during the second quarter valued at about $150,000. Institutional investors own 73.00% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded down 2.82% during trading on Wednesday, hitting $40.01. The stock had a trading volume of 19,299,887 shares. The firm has a 50-day moving average of $41.83 and a 200 day moving average of $41.37. Abbott Laboratories has a 1-year low of $36.00 and a 1-year high of $46.38. The company has a market capitalization of $58.81 billion, a P/E ratio of 26.41 and a beta of 0.87.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Abbott Laboratories’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts predict that Abbott Laboratories will post $2.20 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.60%. Abbott Laboratories’s dividend payout ratio is 68.87%.
ABT has been the topic of several research reports. Bank of America Corp. reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Monday, September 19th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Tuesday, September 20th. Jefferies Group reduced their price objective on Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, September 13th. TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Tuesday, August 9th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $47.02.
In related news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $41.71, for a total value of $33,993.65. Following the sale, the senior vice president now owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Warmuth sold 26,800 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $43.49, for a total transaction of $1,165,532.00. Following the completion of the sale, the insider now directly owns 81,811 shares in the company, valued at approximately $3,557,960.39. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.
About Abbott Laboratories
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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