Capital Planning Advisors LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,880 shares of the healthcare product maker’s stock after purchasing an additional 1,843 shares during the quarter. Abbott Laboratories comprises approximately 1.4% of Capital Planning Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Capital Planning Advisors LLC’s holdings in Abbott Laboratories were worth $3,622,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in ABT. Lawson Kroeker Investment Management Inc. NE acquired a new stake in shares of Abbott Laboratories during the second quarter worth $218,000. Private Trust Co. NA lifted its holdings in shares of Abbott Laboratories by 40.1% during the second quarter. Private Trust Co. NA now owns 64,882 shares of the healthcare product maker’s stock worth $3,153,000 after buying an additional 18,574 shares in the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Abbott Laboratories by 1.9% during the second quarter. Capital Investment Advisors LLC now owns 9,015 shares of the healthcare product maker’s stock worth $438,000 after buying an additional 166 shares in the last quarter. Family Legacy Inc. lifted its holdings in shares of Abbott Laboratories by 4.4% during the second quarter. Family Legacy Inc. now owns 4,771 shares of the healthcare product maker’s stock worth $232,000 after buying an additional 200 shares in the last quarter. Finally, Johanson Financial Advisors Inc. lifted its holdings in shares of Abbott Laboratories by 0.5% during the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after buying an additional 37 shares in the last quarter. 71.19% of the stock is owned by hedge funds and other institutional investors.
In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the transaction, the insider now owns 25,618 shares in the company, valued at $1,437,682.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of Abbott Laboratories stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $54.92, for a total value of $1,555,279.48. Following the completion of the transaction, the insider now owns 102,117 shares in the company, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 501,172 shares of company stock valued at $27,533,150. 0.76% of the stock is owned by insiders.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. equities analysts expect that Abbott Laboratories will post 2.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is 92.56%.
ABT has been the subject of a number of research reports. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. initiated coverage on Abbott Laboratories in a report on Friday, October 6th. They set a “neutral” rating and a $60.00 target price for the company. Royal Bank of Canada reissued a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 9th. Finally, Cowen set a $68.00 target price on Abbott Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $60.24.
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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