Mirador Capital Partners LP lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,653 shares of the healthcare product maker’s stock after selling 127 shares during the quarter. Mirador Capital Partners LP’s holdings in Abbott Laboratories were worth $328,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Villere ST Denis J & Co. LLC grew its holdings in Abbott Laboratories by 2.3% during the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after buying an additional 5,950 shares in the last quarter. Private Bank & Trust Co. grew its holdings in Abbott Laboratories by 12.3% during the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after buying an additional 3,330 shares in the last quarter. Comerica Securities Inc. bought a new stake in Abbott Laboratories during the first quarter worth $2,833,000. AQR Capital Management LLC grew its holdings in Abbott Laboratories by 264.8% during the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after buying an additional 460,477 shares in the last quarter. Finally, Century Capital Management LLC bought a new stake in Abbott Laboratories during the first quarter worth $4,332,000. Institutional investors and hedge funds own 70.64% of the company’s stock.
Abbott Laboratories (ABT) opened at $55.54 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The firm has a market capitalization of $95,437.16, a price-to-earnings ratio of 22.75, a PEG ratio of 2.05 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.69.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 EPS. research analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a dividend of $0.265 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) is 83.47%.
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In related news, insider Jaime Contreras sold 52,700 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the sale, the insider now owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total value of $3,913,635.00. Following the sale, the insider now directly owns 144,955 shares in the company, valued at approximately $7,972,525. The disclosure for this sale can be found here. Insiders have sold a total of 282,920 shares of company stock worth $15,389,766 in the last three months. 0.76% of the stock is currently owned by insiders.
Several brokerages recently issued reports on ABT. Citigroup Inc. reiterated a “neutral” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Barclays PLC reiterated an “overweight” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. BMO Capital Markets restated a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Stifel Nicolaus upped their price objective on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Royal Bank Of Canada upped their price objective on Abbott Laboratories from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.81.
About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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