Greylin Investment Mangement Inc. decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,865 shares of the healthcare product maker’s stock after selling 350 shares during the period. Greylin Investment Mangement Inc.’s holdings in Abbott Laboratories were worth $658,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Cumberland Partners Ltd lifted its position in Abbott Laboratories by 25.0% during the second quarter. Cumberland Partners Ltd now owns 4,500 shares of the healthcare product maker’s stock valued at $378,000 after purchasing an additional 900 shares during the period. DekaBank Deutsche Girozentrale raised its position in Abbott Laboratories by 91.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock worth $122,138,000 after acquiring an additional 694,262 shares during the period. Cypress Capital Management LLC raised its position in Abbott Laboratories by 2.0% in the second quarter. Cypress Capital Management LLC now owns 203,419 shares of the healthcare product maker’s stock worth $17,108,000 after acquiring an additional 4,000 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in Abbott Laboratories by 3.8% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock worth $267,000 after acquiring an additional 116 shares during the period. Finally, Cresset Asset Management LLC raised its position in Abbott Laboratories by 20.7% in the second quarter. Cresset Asset Management LLC now owns 29,187 shares of the healthcare product maker’s stock worth $2,455,000 after acquiring an additional 5,012 shares during the period. Institutional investors own 73.71% of the company’s stock.
In related news, insider Randel William Woodgrift sold 65,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the transaction, the insider now directly owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian B. Yoor sold 43,763 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the transaction, the chief financial officer now directly owns 125,781 shares of the company’s stock, valued at $10,788,236.37. The disclosure for this sale can be found here. Insiders have sold 181,497 shares of company stock valued at $15,701,810 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.
Shares of NYSE ABT traded up $0.10 during midday trading on Friday, reaching $80.24. The stock had a trading volume of 2,278,500 shares, compared to its average volume of 4,028,799. The stock has a 50-day moving average of $83.20 and a 200-day moving average of $81.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The company has a market capitalization of $138.76 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13. Abbott Laboratories has a 12-month low of $65.44 and a 12-month high of $88.76.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 earnings per share. As a group, analysts forecast that Abbott Laboratories will post 3.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, October 11th. This represents a $1.28 annualized dividend and a yield of 1.60%. Abbott Laboratories’s payout ratio is 44.44%.
ABT has been the topic of several recent research reports. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Co increased their price target on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Bank of America reiterated a “buy” rating and issued a $81.00 price target on shares of Abbott Laboratories in a research report on Thursday, June 13th. Finally, Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.74.
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 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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