Resources Management Corp CT ADV bought a new position in Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 53,693 shares of the healthcare product maker’s stock, valued at approximately $4,492,000.
Other large investors also recently made changes to their positions in the company. United Bank raised its holdings in shares of Abbott Laboratories by 4.0% in the second quarter. United Bank now owns 30,492 shares of the healthcare product maker’s stock valued at $2,564,000 after buying an additional 1,166 shares during the last quarter. Rothschild & Co. Asset Management US Inc. increased its position in Abbott Laboratories by 1,669.1% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 289,970 shares of the healthcare product maker’s stock valued at $24,387,000 after acquiring an additional 273,579 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Abbott Laboratories by 14.8% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,950 shares of the healthcare product maker’s stock valued at $416,000 after acquiring an additional 637 shares in the last quarter. Trust Co. of Oklahoma raised its stake in shares of Abbott Laboratories by 3.8% in the second quarter. Trust Co. of Oklahoma now owns 12,974 shares of the healthcare product maker’s stock worth $1,091,000 after acquiring an additional 475 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Abbott Laboratories by 35.6% in the second quarter. Ballentine Partners LLC now owns 12,479 shares of the healthcare product maker’s stock worth $1,049,000 after acquiring an additional 3,273 shares during the last quarter. Institutional investors own 73.66% of the company’s stock.
In other Abbott Laboratories news, SVP Randel William Woodgrift sold 21,000 shares of Abbott Laboratories stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the completion of the sale, the senior vice president now owns 68,562 shares of the company’s stock, valued at approximately $5,521,983.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.
Abbott Laboratories stock traded up $0.82 during trading hours on Wednesday, reaching $85.18. 3,948,778 shares of the company’s stock traded hands, compared to its average volume of 4,640,929. The firm has a market capitalization of $151.11 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 2.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.54. Abbott Laboratories has a fifty-two week low of $65.44 and a fifty-two week high of $88.76. The firm’s 50 day moving average is $83.47 and its 200-day moving average is $83.15.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting the consensus estimate of $0.84. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. Abbott Laboratories’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 EPS. Analysts predict that Abbott Laboratories will post 3.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.32 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. Abbott Laboratories’s payout ratio is presently 44.44%.
A number of equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Wednesday, August 21st. Raymond James dropped their price objective on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Credit Suisse Group boosted their price objective on shares of Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $87.94.
About Abbott Laboratories
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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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