Wendell David Associates Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 198,550 shares of the healthcare product maker’s stock after selling 2,025 shares during the period. Abbott Laboratories comprises 2.3% of Wendell David Associates Inc.’s holdings, making the stock its 10th largest position. Wendell David Associates Inc.’s holdings in Abbott Laboratories were worth $14,566,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of ABT. Morgan Stanley raised its stake in shares of Abbott Laboratories by 33.1% in the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after buying an additional 5,274,307 shares during the period. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Abbott Laboratories in the second quarter valued at $275,697,000. American Century Companies Inc. raised its stake in shares of Abbott Laboratories by 417.9% in the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after buying an additional 4,507,553 shares during the period. BlackRock Inc. raised its stake in shares of Abbott Laboratories by 3.7% in the second quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock valued at $7,083,972,000 after buying an additional 4,153,157 shares during the period. Finally, Swedbank bought a new stake in shares of Abbott Laboratories in the second quarter valued at $101,535,000. 72.16% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Jaime Contreras sold 64,268 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the sale, the senior vice president now directly owns 125,471 shares in the company, valued at approximately $8,386,481.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sharon J. Bracken sold 615 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $65.16, for a total value of $40,073.40. Following the sale, the insider now owns 40,761 shares in the company, valued at $2,655,986.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,321 shares of company stock worth $10,492,583. 0.74% of the stock is currently owned by corporate insiders.
NYSE:ABT opened at $69.33 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.58. Abbott Laboratories has a 52-week low of $53.61 and a 52-week high of $74.15. The firm has a market cap of $128.70 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.05 and a beta of 1.49.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same period in the previous year, the company posted $0.62 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts forecast that Abbott Laboratories will post 2.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.62%. Abbott Laboratories’s payout ratio is 44.80%.
Several analysts have issued reports on the company. Zacks Investment Research lowered Abbott Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Cowen boosted their target price on Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research note on Friday, October 5th. JPMorgan Chase & Co. boosted their target price on Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Raymond James boosted their target price on Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Finally, Wells Fargo & Co boosted their target price on Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $73.72.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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