Meiji Yasuda Asset Management Co Ltd. cut its stake in Abbott Laboratories (NYSE:ABT) by 3.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 115,735 shares of the healthcare product maker’s stock after selling 3,700 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Abbott Laboratories were worth $6,176,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Tributary Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $106,000. Heritage Trust Co grew its position in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares during the period. Winfield Associates Inc. grew its position in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after buying an additional 89 shares during the period. Thompson Davis & CO. Inc. grew its position in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after buying an additional 370 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after buying an additional 2,094 shares during the period. Institutional investors and hedge funds own 71.19% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) opened at $58.99 on Thursday. Abbott Laboratories has a 1 year low of $39.25 and a 1 year high of $59.60. The company has a market cap of $101,720.72, a PE ratio of 46.45, a P/E/G ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. equities analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.12 annualized dividend and a yield of 1.90%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is currently 88.19%.
A number of analysts have recently weighed in on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $58.00 to $65.00 in a research report on Tuesday, December 12th. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Jefferies Group reissued a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 19th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and an average target price of $60.24.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the transaction, the executive vice president now owns 142,082 shares in the company, valued at approximately $7,986,429.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Blaser sold 23,866 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total transaction of $1,325,756.30. Following the transaction, the insider now owns 146,387 shares in the company, valued at approximately $8,131,797.85. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock worth $27,533,150 in the last 90 days. Company insiders own 0.76% of the company’s stock.
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Abbott Laboratories Company Profile
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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