Barrett Asset Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,728 shares of the healthcare product maker’s stock after selling 7,100 shares during the period. Barrett Asset Management LLC’s holdings in Abbott Laboratories were worth $7,976,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of ABT. Ontario Teachers Pension Plan Board boosted its holdings in Abbott Laboratories by 8.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 23,331 shares of the healthcare product maker’s stock worth $1,423,000 after purchasing an additional 1,762 shares in the last quarter. HRT Financial LLC bought a new stake in Abbott Laboratories in the second quarter worth $206,000. American Century Companies Inc. boosted its holdings in 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 worth $340,697,000 after purchasing an additional 4,507,553 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Abbott Laboratories by 0.8% in the second quarter. Baird Financial Group Inc. now owns 1,195,417 shares of the healthcare product maker’s stock worth $72,823,000 after purchasing an additional 9,229 shares in the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new stake in Abbott Laboratories in the second quarter worth $1,793,000. Institutional investors and hedge funds own 72.39% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Abbott Laboratories from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. Barclays assumed coverage on shares of Abbott Laboratories in a report on Monday, October 15th. They issued an “overweight” rating and a $80.00 price objective for the company. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 11th. Finally, BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $75.63.
Abbott Laboratories stock opened at $73.26 on Friday. The firm has a market cap of $127.91 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.16 and a beta of 1.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13. Abbott Laboratories has a fifty-two week low of $54.32 and a fifty-two week high of $74.15.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.75. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts forecast that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, October 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s dividend payout ratio is 44.80%.
In other news, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $73.35, for a total transaction of $127,042.20. Following the completion of the transaction, the senior vice president now owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $73.39, for a total transaction of $366,950.00. Following the transaction, the insider now directly owns 93,321 shares of the company’s stock, valued at approximately $6,848,828.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,932 shares of company stock valued at $9,112,570. Company insiders own 0.74% of the company’s stock.
Abbott Laboratories 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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