Trust Co. of Oklahoma reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 40.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,827 shares of the healthcare product maker’s stock after selling 10,875 shares during the period. Trust Co. of Oklahoma’s holdings in Abbott Laboratories were worth $703,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Patten Group Inc. increased its position in Abbott Laboratories by 66.0% in the third quarter. Patten Group Inc. now owns 2,516 shares of the healthcare product maker’s stock valued at $103,000 after buying an additional 1,000 shares during the last quarter. Kanaly Trust Co increased its position in Abbott Laboratories by 3.7% in the third quarter. Kanaly Trust Co now owns 2,584 shares of the healthcare product maker’s stock valued at $109,000 after buying an additional 91 shares during the last quarter. Advantage Investment Management LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $120,000. Menora Mivtachim Holdings LTD. purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $129,000. Finally, Guidant Wealth Advisors purchased a new position in Abbott Laboratories during the third quarter valued at approximately $130,000. 62.20% of the stock is currently owned by institutional investors.
Abbott Laboratories (NYSE:ABT) opened at 43.98 on Friday. The company has a market capitalization of $76.00 billion, a PE ratio of 46.94 and a beta of 0.97. Abbott Laboratories has a 52 week low of $36.76 and a 52 week high of $45.84. The stock has a 50 day moving average price of $44.52 and a 200-day moving average price of $41.64. Abbott Laboratories also was the recipient of some unusual options trading activity on Tuesday. Stock investors bought 10,359 put options on the stock. This is an increase of 892% compared to the average daily volume of 1,044 put options.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 19th. The healthcare product maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. The firm earned $6.34 billion during the quarter, compared to the consensus estimate of $6.16 billion. Abbott Laboratories had a net margin of 6.71% and a return on equity of 15.74%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, equities analysts predict that Abbott Laboratories will post $2.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Tuesday, April 11th. Abbott Laboratories’s dividend payout ratio (DPR) is 113.98%.
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Several brokerages recently issued reports on ABT. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Tuesday, January 10th. Jefferies Group LLC cut their price target on Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets cut Abbott Laboratories from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a research note on Tuesday, March 14th. Royal Bank of Canada cut their price target on Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, January 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $42.00 price target on shares of Abbott Laboratories in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $48.64.
In other news, insider Roger Bird sold 13,222 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $45.02, for a total transaction of $595,254.44. Following the completion of the transaction, the insider now directly owns 63,910 shares of the company’s stock, valued at $2,877,228.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Heather L. Mason sold 35,700 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $40.77, for a total transaction of $1,455,489.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $4,084,705.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,592 shares of company stock valued at $3,400,139. Insiders own 0.26% of the company’s stock.
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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