Gotham Asset Management LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 60.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 399,925 shares of the healthcare product maker’s stock after selling 610,673 shares during the period. Gotham Asset Management LLC’s holdings in Abbott Laboratories were worth $17,761,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Capital Management LLC boosted its position in shares of Abbott Laboratories by 0.4% during the 1st quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock valued at $276,000 after purchasing an additional 26 shares in the last quarter. Delta Asset Management LLC TN boosted its position in shares of Abbott Laboratories by 1.3% during the 1st quarter. Delta Asset Management LLC TN now owns 3,996 shares of the healthcare product maker’s stock valued at $178,000 after purchasing an additional 51 shares in the last quarter. Alexandria Capital LLC boosted its position in shares of Abbott Laboratories by 0.5% during the 1st quarter. Alexandria Capital LLC now owns 11,318 shares of the healthcare product maker’s stock valued at $503,000 after purchasing an additional 56 shares in the last quarter. iAB Financial Bank boosted its position in shares of Abbott Laboratories by 0.4% during the 1st quarter. iAB Financial Bank now owns 27,050 shares of the healthcare product maker’s stock valued at $1,201,000 after purchasing an additional 100 shares in the last quarter. Finally, Pekin Singer Strauss Asset Management IL boosted its position in shares of Abbott Laboratories by 0.5% during the 1st quarter. Pekin Singer Strauss Asset Management IL now owns 22,058 shares of the healthcare product maker’s stock valued at $980,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded up 0.14% during midday trading on Friday, hitting $51.76. The company had a trading volume of 6,699,659 shares. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $52.60. The stock has a 50 day moving average price of $50.01 and a 200 day moving average price of $46.93. The firm has a market capitalization of $89.93 billion, a P/E ratio of 72.49 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. On average, equities analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s payout ratio is currently 149.30%.
ABT has been the topic of a number of research reports. BidaskClub raised Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday, June 29th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Friday, May 26th. Stifel Nicolaus increased their price objective on Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $54.00 price objective (up from $47.50) on shares of Abbott Laboratories in a research note on Friday, June 30th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $52.50.
In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the sale, the insider now directly owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the sale, the insider now directly owns 105,479 shares in the company, valued at $5,357,278.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,150 shares of company stock worth $10,811,179. 0.76% of the stock is owned by insiders.
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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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