Patton Albertson Miller Group LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,770 shares of the healthcare product maker’s stock after selling 1,734 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Abbott Laboratories were worth $1,414,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Villere ST Denis J & Co. LLC grew its position in Abbott Laboratories by 2.3% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock valued at $13,037,000 after purchasing an additional 5,950 shares during the period. Private Bank & Trust Co. grew its position in Abbott Laboratories by 12.3% in the 2nd quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock valued at $1,473,000 after purchasing an additional 3,330 shares during the period. Comerica Securities Inc. acquired a new stake in Abbott Laboratories in the 1st quarter valued at $2,833,000. AQR Capital Management LLC grew its position in Abbott Laboratories by 264.8% in the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after purchasing an additional 460,477 shares during the period. Finally, Century Capital Management LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $4,332,000. 71.42% of the stock is owned by institutional investors and hedge funds.
In related news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian J. Blaser sold 15,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total value of $750,000.00. Following the sale, the insider now directly owns 143,154 shares in the company, valued at $7,157,700. The disclosure for this sale can be found here. Insiders have sold 328,710 shares of company stock worth $16,623,621 over the last ninety days. 0.76% of the stock is currently owned by insiders.
Several analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Cowen and Company set a $68.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a research report on Thursday, October 19th. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 19th. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, October 19th. Finally, Barclays PLC reissued an “overweight” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.81.
Shares of Abbott Laboratories (NYSE:ABT) opened at 55.38 on Wednesday. The stock’s 50 day moving average price is $53.46 and its 200-day moving average price is $48.75. The company has a market capitalization of $96.22 billion, a PE ratio of 77.56 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $56.69.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 28.8% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post $2.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
Abbott Laboratories Company Profile
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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