Abbott Laboratories (ABT) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 17.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 75,417 shares of the healthcare product maker’s stock after selling 16,050 shares during the period. Highland Capital Management LLC’s holdings in Abbott Laboratories were worth $5,533,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Atlantic Trust LLC purchased a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $104,000. Rainier Group Investment Advisory LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $114,000. FNY Investment Advisers LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $118,000. Fort L.P. acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $119,000. Finally, Security National Bank of SO Dak increased its stake in Abbott Laboratories by 72.0% in the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock valued at $128,000 after buying an additional 878 shares during the period. Institutional investors and hedge funds own 72.23% of the company’s stock.

In other news, insider Michael J. Pederson sold 1,050 shares of the stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $63.43, for a total transaction of $66,601.50. Following the transaction, the insider now owns 79,467 shares in the company, valued at approximately $5,040,591.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian J. Blaser sold 15,100 shares of the stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $965,796.00. Following the transaction, the executive vice president now owns 151,718 shares in the company, valued at approximately $9,703,883.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,321 shares of company stock worth $10,492,583. 0.74% of the stock is currently owned by company insiders.

ABT has been the topic of several research reports. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, September 18th. Wells Fargo & Co upped their price objective on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. JPMorgan Chase & Co. upped their price objective on shares of Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Barclays initiated coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They issued an “overweight” rating and a $80.00 price objective on the stock. Finally, Raymond James upped their price objective on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $75.22.

Shares of ABT opened at $67.59 on Friday. Abbott Laboratories has a 12 month low of $53.61 and a 12 month high of $74.15. The firm has a market cap of $119.54 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.90 and a beta of 1.49. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.01%. The company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the business posted $0.66 EPS. Abbott Laboratories’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.66%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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