Leavell Investment Management Inc. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,245 shares of the healthcare product maker’s stock after selling 266 shares during the period. Leavell Investment Management Inc.’s holdings in Abbott Laboratories were worth $4,271,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. JustInvest LLC increased its position in shares of Abbott Laboratories by 44.0% in the second quarter. JustInvest LLC now owns 12,672 shares of the healthcare product maker’s stock worth $1,159,000 after purchasing an additional 3,873 shares during the last quarter. Rhenman & Partners Asset Management AB increased its position in shares of Abbott Laboratories by 10.8% in the third quarter. Rhenman & Partners Asset Management AB now owns 205,000 shares of the healthcare product maker’s stock worth $22,310,000 after purchasing an additional 20,000 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased its position in shares of Abbott Laboratories by 2.4% in the third quarter. Hubbell Strickland Wealth Management LLC now owns 8,777 shares of the healthcare product maker’s stock worth $955,000 after purchasing an additional 209 shares during the last quarter. Callahan Advisors LLC increased its position in shares of Abbott Laboratories by 0.7% in the second quarter. Callahan Advisors LLC now owns 106,753 shares of the healthcare product maker’s stock worth $9,760,000 after purchasing an additional 724 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Abbott Laboratories in the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 73.09% of the company’s stock.
NYSE:ABT opened at $105.00 on Friday. The firm has a market cap of $185.91 billion, a PE ratio of 55.56, a price-to-earnings-growth ratio of 2.46 and a beta of 0.92. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $114.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. The business has a 50 day moving average price of $106.86 and a 200-day moving average price of $98.24.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.53 billion. Abbott Laboratories had a return on equity of 18.30% and a net margin of 10.50%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. Research analysts predict that Abbott Laboratories will post 3.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.37%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Credit Suisse Group cut their target price on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd. Bank of America upped their target price on Abbott Laboratories from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Wolfe Research initiated coverage on Abbott Laboratories in a research note on Friday, September 11th. They issued an “outperform” rating and a $124.00 target price for the company. Finally, BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, August 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $115.29.
In related news, CFO Robert E. Funck sold 83,333 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $108.83, for a total transaction of $9,069,130.39. Following the completion of the transaction, the chief financial officer now owns 265,550 shares in the company, valued at $28,899,806.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 3,650 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $102.47, for a total value of $374,015.50. Following the transaction, the executive vice president now owns 44,080 shares of the company’s stock, valued at approximately $4,516,877.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,252 shares of company stock valued at $18,352,259. 1.70% of the stock is owned by corporate insiders.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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; MÃ©niÃ¨re'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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