MAI Capital Management decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 256,017 shares of the healthcare product maker’s stock after selling 5,136 shares during the period. Abbott Laboratories makes up 0.8% of MAI Capital Management’s holdings, making the stock its 27th largest position. MAI Capital Management’s holdings in Abbott Laboratories were worth $14,611,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at $102,000. Heritage Trust Co increased its position in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares in the last quarter. Tributary Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $106,000. Thompson Davis & CO. Inc. increased its position in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at $133,000. Institutional investors own 70.01% of the company’s stock.
In other Abbott Laboratories news, Director Daniel J. Starks acquired 40,037 shares of Abbott Laboratories stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $60.67 per share, for a total transaction of $2,429,044.79. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the transaction, the insider now owns 102,117 shares of the company’s stock, valued at $5,608,265.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 402,949 shares of company stock valued at $22,563,565. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.86%. Abbott Laboratories’s dividend payout ratio is 107.69%.
A number of research firms recently commented on ABT. Argus upped their price objective on shares of Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup upped their price objective on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Barclays upped their price objective on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Guggenheim restated a “buy” rating and issued a $72.00 price objective on shares of Abbott Laboratories in a research report on Thursday, January 25th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.47.
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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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