South Texas Money Management Ltd. reduced its stake in Abbott Laboratories (NYSE:ABT) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,642 shares of the healthcare product maker’s stock after selling 1,927 shares during the period. South Texas Money Management Ltd.’s holdings in Abbott Laboratories were worth $493,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Moody Lynn & Lieberson LLC boosted its stake in Abbott Laboratories by 17.1% during the third quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock valued at $17,420,000 after buying an additional 47,610 shares during the period. Point72 Asset Management L.P. bought a new stake in Abbott Laboratories during the third quarter valued at $47,713,000. Vantage Investment Advisors LLC boosted its stake in Abbott Laboratories by 103.4% during the second quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after buying an additional 36,683 shares during the period. Brightworth bought a new stake in Abbott Laboratories during the third quarter valued at $841,000. Finally, RKL Wealth Management LLC bought a new stake in Abbott Laboratories during the third quarter valued at $227,000. 72.35% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Jared Watkin sold 996 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $58.87, for a total transaction of $58,634.52. Following the transaction, the senior vice president now owns 69,511 shares in the company, valued at approximately $4,092,112.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Blaser sold 27,733 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total value of $1,726,656.58. Following the transaction, the insider now owns 156,587 shares in the company, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,261 shares of company stock worth $7,559,987. Company insiders own 0.76% of the company’s stock.
Several equities research analysts recently issued reports on ABT shares. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Evercore ISI initiated coverage on Abbott Laboratories in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price target for the company. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Finally, BTIG Research lowered 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 assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.47.
Abbott Laboratories (NYSE:ABT) opened at $62.26 on Tuesday. The company has a market capitalization of $110,333.38, a PE ratio of 239.47, a PEG ratio of 1.87 and a beta of 1.52. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. research analysts expect that Abbott Laboratories will post 2.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.28 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.80%. Abbott Laboratories’s dividend payout ratio is currently 430.79%.
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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.
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