Trust Co. of Toledo NA OH lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 81,001 shares of the healthcare product maker’s stock after selling 1,271 shares during the period. Abbott Laboratories makes up 1.1% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 21st biggest holding. Trust Co. of Toledo NA OH’s holdings in Abbott Laboratories were worth $4,623,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Rowland & Co. Investment Counsel ADV acquired a new position in Abbott Laboratories in the fourth quarter worth about $102,000. Heritage Trust Co raised its position 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 worth $106,000 after purchasing an additional 200 shares in the last quarter. Tributary Capital Management LLC acquired a new position in Abbott Laboratories in the third quarter worth about $106,000. Thompson Davis & CO. Inc. raised its position in Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after purchasing an additional 370 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new position in Abbott Laboratories in the fourth quarter worth about $133,000. 72.35% of the stock is owned by institutional investors and hedge funds.
In other news, Director Daniel J. Starks bought 40,037 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $60.67 per share, for a total transaction of $2,429,044.79. Following the completion of the acquisition, the director now owns 6,943,348 shares in the company, valued at approximately $421,252,923.16. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Roger Bird sold 8,262 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.75, for a total transaction of $518,440.50. Following the completion of the sale, the insider now owns 58,574 shares in the company, valued at $3,675,518.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,261 shares of company stock worth $7,559,987. Insiders own 0.76% of the company’s stock.
Abbott Laboratories stock opened at $62.42 on Thursday. Abbott Laboratories has a 52 week low of $42.31 and a 52 week high of $64.60. The stock has a market cap of $109,407.83, a P/E ratio of 240.09, a price-to-earnings-growth ratio of 1.86 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 (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. During the same period last year, the firm earned $0.65 earnings per share. The business’s revenue for the quarter was up 42.3% on a year-over-year basis. equities research analysts predict that Abbott Laboratories will post 2.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.28 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.79%. Abbott Laboratories’s payout ratio is presently 430.79%.
Several research analysts recently issued reports on the stock. Wells Fargo increased their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Leerink Swann reissued a “market perform” rating on shares of Abbott Laboratories in a research report on Friday, January 19th. Royal Bank of Canada reaffirmed a “buy” rating and set a $67.00 price objective on shares of Abbott Laboratories in a research note on Thursday, January 25th. Citigroup upped their price objective on shares of Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Finally, BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $58.00 to $65.00 in a research note on Tuesday, December 12th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $65.47.
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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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