Aviance Capital Partners LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,279 shares of the healthcare product maker’s stock after selling 1,890 shares during the quarter. Aviance Capital Partners LLC’s holdings in Abbott Laboratories were worth $1,669,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. raised its position in shares of Abbott Laboratories by 2.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 126,600 shares of the healthcare product maker’s stock valued at $6,756,000 after acquiring an additional 2,762 shares during the last quarter. Capital Planning Advisors LLC raised its position in shares of Abbott Laboratories by 2.8% during the 3rd quarter. Capital Planning Advisors LLC now owns 67,880 shares of the healthcare product maker’s stock valued at $3,622,000 after acquiring an additional 1,843 shares during the last quarter. Johnson Financial Group LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $261,000. Gratus Capital LLC raised its position in shares of Abbott Laboratories by 3.0% during the 3rd quarter. Gratus Capital LLC now owns 211,237 shares of the healthcare product maker’s stock valued at $11,272,000 after acquiring an additional 6,170 shares during the last quarter. Finally, Sivik Global Healthcare LLC grew its holdings in shares of Abbott Laboratories by 40.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 140,000 shares of the healthcare product maker’s stock valued at $7,470,000 after buying an additional 40,000 shares during the period. 71.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Abbott Laboratories (NYSE ABT) traded up $0.90 during mid-day trading on Friday, hitting $57.17. 7,984,128 shares of the stock were exchanged, compared to its average volume of 7,750,000. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The company has a market cap of $99,510.00, a PE ratio of 285.85, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55. Abbott Laboratories has a 12 month low of $42.31 and a 12 month high of $64.60.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. Abbott Laboratories’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. research analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.96%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is presently 560.00%.
Several equities analysts have recently issued reports on ABT shares. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 9th. Cowen set a $68.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Finally, Evercore ISI initiated coverage on shares of Abbott Laboratories in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price for the company. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $65.47.
In other news, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the transaction, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total transaction of $3,913,635.00. Following the sale, the insider now owns 144,955 shares in the company, valued at approximately $7,972,525. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 445,615 shares of company stock worth $24,666,341. 0.76% of the stock is owned by insiders.
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.
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.