Huntington National Bank decreased its position in Abbott Laboratories (NYSE:ABT) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 609,751 shares of the healthcare product maker’s stock after selling 3,398 shares during the quarter. Huntington National Bank’s holdings in Abbott Laboratories were worth $34,798,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $102,000. Heritage Trust Co boosted its stake 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 valued at $106,000 after buying an additional 200 shares during the last quarter. Tributary Capital Management LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at approximately $106,000. Thompson Davis & CO. Inc. boosted its stake 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 valued at $120,000 after buying an additional 370 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $133,000. 72.46% of the stock is owned by institutional investors.
Several research firms have recently commented on ABT. Wells Fargo & Co increased their target price on Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Leerink Swann reiterated a “market perform” rating on shares of Abbott Laboratories in a research note on Friday, January 19th. Royal Bank of Canada reiterated a “buy” rating and set a $67.00 target price on shares of Abbott Laboratories in a research note on Thursday, January 25th. Citigroup increased their target price on Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, BMO Capital Markets upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating and increased their target price for the company from $58.00 to $65.00 in a research note on Tuesday, December 12th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $65.47.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. equities analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 430.79%.
In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $54.92, for a total value of $1,555,279.48. Following the sale, the insider now directly owns 102,117 shares of the company’s stock, valued at $5,608,265.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Starks bought 40,037 shares of the company’s stock in a transaction on 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. Following the completion of the transaction, the director now directly owns 6,943,348 shares of the company’s stock, valued at $421,252,923.16. The disclosure for this purchase can be found here. Insiders sold 144,318 shares of company stock worth $8,596,826 over the last ninety days. 0.76% of the stock is owned by corporate insiders.
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Abbott Laboratories 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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