Pacad Investment Ltd. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 65.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,300 shares of the healthcare product maker’s stock after selling 58,235 shares during the period. Pacad Investment Ltd.’s holdings in Abbott Laboratories were worth $1,473,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. AT Bancorp lifted its position in shares of Abbott Laboratories by 13.1% in the 1st quarter. AT Bancorp now owns 34,569 shares of the healthcare product maker’s stock valued at $1,536,000 after acquiring an additional 4,015 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in Abbott Laboratories by 11.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 175,152 shares of the healthcare product maker’s stock valued at $7,779,000 after buying an additional 18,010 shares during the last quarter. Elkfork Partners LLC grew its position in Abbott Laboratories by 37.1% in the 1st quarter. Elkfork Partners LLC now owns 406,340 shares of the healthcare product maker’s stock worth $18,046,000 after purchasing an additional 109,912 shares during the last quarter. Harbour Investment Management LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth $1,695,000. Finally, Wellington Shields Capital Management LLC grew its position in Abbott Laboratories by 2.0% in the 1st quarter. Wellington Shields Capital Management LLC now owns 30,918 shares of the healthcare product maker’s stock worth $1,373,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 69.99% of the company’s stock.
Several analysts have issued reports on the stock. BidaskClub lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Cowen and Company reissued a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Barclays PLC lifted their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. Finally, Jefferies Group LLC restated a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 3rd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $56.81.
Abbott Laboratories (ABT) opened at $55.56 on Monday. Abbott Laboratories has a twelve month low of $37.38 and a twelve month high of $56.69. The stock has a market capitalization of $96,710.00, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 2.08 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same period last year, the firm posted $0.59 earnings per share. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. equities analysts forecast that Abbott Laboratories will post 2.5 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.91%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 87.60%.
In related news, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 58,739 shares in the company, valued at approximately $3,052,665.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total value of $3,913,635.00. Following the transaction, the insider now owns 144,955 shares of the company’s stock, 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 valued at $15,389,766 in the last 90 days. 0.76% of the stock is currently owned by company 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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