Carret Asset Management LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,285 shares of the healthcare product maker’s stock after selling 1,635 shares during the period. Carret Asset Management LLC’s holdings in Abbott Laboratories were worth $4,789,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth approximately $103,000. Atlantic Trust LLC acquired a new position in Abbott Laboratories during the 2nd quarter worth approximately $104,000. Fort L.P. acquired a new position in Abbott Laboratories during the 2nd quarter worth approximately $119,000. Security National Bank of SO Dak grew its holdings in Abbott Laboratories by 72.0% during the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock worth $128,000 after acquiring an additional 878 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV grew its holdings in Abbott Laboratories by 1,069.5% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 4,374 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.
In related news, insider Brian J. Blaser sold 58,200 shares of the company’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $68.79, for a total value of $4,003,578.00. Following the completion of the sale, the insider now owns 184,918 shares in the company, valued at approximately $12,720,509.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 39,229 shares of the company’s stock, valued at approximately $2,877,447.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,273 shares of company stock valued at $19,410,942. 0.74% of the stock is owned by insiders.
Several research analysts have commented on ABT shares. Cowen boosted their price target on shares of Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a report on Friday, October 5th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Goldman Sachs Group upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and upped their target price for the company from $78.00 to $81.00 in a report on Friday. Morgan Stanley upped their target price on shares of Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. Finally, Barclays assumed coverage on shares of Abbott Laboratories in a report on Monday, October 15th. They issued an “overweight” rating and a $80.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $75.90.
Shares of Abbott Laboratories stock opened at $74.05 on Monday. Abbott Laboratories has a 12-month low of $54.32 and a 12-month high of $74.23. The firm has a market capitalization of $130.06 billion, a PE ratio of 26.35, a P/E/G ratio of 2.20 and a beta of 1.40. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Abbott Laboratories’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts expect that Abbott Laboratories will post 2.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, October 12th. This represents a $1.12 annualized dividend and a yield of 1.51%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.
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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