Roanoke Asset Management Corp NY trimmed its position in Abbott Laboratories (NYSE:ABT) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,435 shares of the healthcare product maker’s stock after selling 2,440 shares during the quarter. Abbott Laboratories makes up 1.3% of Roanoke Asset Management Corp NY’s holdings, making the stock its 29th largest position. Roanoke Asset Management Corp NY’s holdings in Abbott Laboratories were worth $2,821,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV bought a new position in Abbott Laboratories in the 4th quarter valued at about $102,000. Tributary Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $106,000. Heritage Trust Co grew its position in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $133,000. Finally, Thompson Davis & CO. Inc. grew its position in shares of Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after purchasing an additional 370 shares in the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.
In other Abbott Laboratories news, insider Brian J. Blaser sold 27,733 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total value of $1,726,656.58. Following the sale, the insider now owns 156,587 shares in the company, valued at $9,749,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the sale, the executive vice president now owns 152,343 shares in the company, valued at approximately $9,573,234.12. The disclosure for this sale can be found here. Insiders have sold a total of 405,137 shares of company stock worth $22,686,356 in the last quarter. 0.76% of the stock is currently owned by company insiders.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio is 430.79%.
ABT has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada restated a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Evercore ISI initiated coverage on shares of Abbott Laboratories in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 target price on the stock. ValuEngine upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Finally, BTIG Research lowered shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $65.47.
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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