Ancora Advisors LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,694 shares of the healthcare product maker’s stock after selling 1,655 shares during the period. Ancora Advisors LLC’s holdings in Abbott Laboratories were worth $5,554,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at approximately $103,000. Atlantic Trust LLC bought a new position in Abbott Laboratories in the 2nd quarter valued at approximately $104,000. Fort L.P. bought a new position in Abbott Laboratories in the 2nd quarter valued at approximately $119,000. Security National Bank of SO Dak lifted its stake in Abbott Laboratories by 72.0% in the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock valued at $128,000 after purchasing an additional 878 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV lifted its stake in Abbott Laboratories by 1,069.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 4,374 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 4,000 shares during the last quarter. 72.83% of the stock is owned by institutional investors.
In other news, Chairman Miles D. White sold 142,341 shares of the stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the completion of the sale, the chairman now directly owns 3,459,185 shares in the company, valued at $250,272,034.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Sharon J. Bracken sold 1,732 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $73.35, for a total transaction of $127,042.20. Following the sale, the senior vice president now owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,273 shares of company stock valued at $19,410,942. 0.74% of the stock is currently owned by corporate insiders.
ABT stock opened at $69.95 on Friday. The firm has a market cap of $125.58 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.40. Abbott Laboratories has a 52-week low of $54.33 and a 52-week high of $74.92. 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 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. On average, research analysts predict that Abbott Laboratories will post 2.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, October 15th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s payout ratio is currently 44.80%.
Several equities analysts recently commented on the stock. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. UBS Group assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, November 27th. They issued a “buy” rating and a $83.00 price objective for the company. Raymond James increased their price objective on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Goldman Sachs Group raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and increased their price objective for the company from $78.00 to $81.00 in a research note on Friday, November 30th. Finally, Morgan Stanley increased their price objective on shares of Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. 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. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $76.00.
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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