Huntington National Bank lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 609,751 shares of the healthcare product maker’s stock after selling 3,398 shares during the quarter. Huntington National Bank’s holdings in Abbott Laboratories were worth $34,798,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of ABT. IFG Advisory LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $2,824,000. Rowland & Co. Investment Counsel ADV acquired a new position in Abbott Laboratories in the fourth quarter valued at about $102,000. Tributary Capital Management LLC acquired a new position in Abbott Laboratories in the third quarter valued at about $106,000. Heritage Trust Co raised its stake in Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new position in Abbott Laboratories during the fourth quarter worth about $133,000. 72.35% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on ABT shares. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Royal Bank of Canada restated a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 9th. Evercore ISI initiated coverage on Abbott Laboratories in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price target for the company. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Finally, BTIG Research downgraded Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $65.47.
In other news, SVP Jared Watkin sold 996 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $58.87, for a total transaction of $58,634.52. Following the sale, the senior vice president now owns 69,511 shares of the company’s stock, valued at $4,092,112.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sharon J. Bracken sold 1,053 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $58.93, for a total transaction of $62,053.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,261 shares of company stock worth $7,559,987. Insiders own 0.76% of the company’s stock.
Shares of Abbott Laboratories (ABT) traded down $0.02 during midday trading on Tuesday, reaching $62.24. The company’s stock had a trading volume of 253,815 shares, compared to its average volume of 7,297,807. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86. The company has a market cap of $110,333.38, a PE ratio of 240.01, a PEG ratio of 1.87 and a beta of 1.52. Abbott Laboratories has a 1-year low of $42.31 and a 1-year 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, topping the Zacks’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. analysts forecast that Abbott Laboratories will post 2.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 430.79%.
Abbott Laboratories Company Profile
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.