Veracity Capital LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,886 shares of the healthcare product maker’s stock after selling 458 shares during the period. Veracity Capital LLC’s holdings in Abbott Laboratories were worth $577,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of ABT. Camden National Bank increased its holdings in Abbott Laboratories by 1.5% in the 4th quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock worth $844,000 after buying an additional 114 shares in the last quarter. Hoylecohen LLC increased its holdings in Abbott Laboratories by 3.0% in the 1st quarter. Hoylecohen LLC now owns 60,325 shares of the healthcare product maker’s stock worth $7,229,000 after buying an additional 1,746 shares in the last quarter. Virtu Financial LLC bought a new stake in Abbott Laboratories in the 1st quarter worth about $884,000. Gladstone Institutional Advisory LLC bought a new stake in Abbott Laboratories in the 1st quarter worth about $236,000. Finally, Colony Group LLC increased its holdings in Abbott Laboratories by 19.1% in the 1st quarter. Colony Group LLC now owns 36,831 shares of the healthcare product maker’s stock worth $4,414,000 after buying an additional 5,904 shares in the last quarter. Hedge funds and other institutional investors own 72.46% of the company’s stock.
A number of equities research analysts have issued reports on ABT shares. Morgan Stanley boosted their price target on Abbott Laboratories from $136.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 21st. Zacks Investment Research upgraded Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price target for the company in a research note on Tuesday, August 3rd. Redburn Partners assumed coverage on Abbott Laboratories in a research report on Thursday, October 14th. They set a “neutral” rating and a $132.28 price objective on the stock. Citigroup lifted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, October 1st. Finally, Atlantic Securities raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $144.00 price objective on the stock in a research report on Wednesday, October 27th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $134.94.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Tuesday, October 19th. The healthcare product maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.46. Abbott Laboratories had a return on equity of 28.39% and a net margin of 17.12%. The business had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $9.56 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue was up 23.4% compared to the same quarter last year. On average, analysts forecast that Abbott Laboratories will post 5.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Friday, October 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Thursday, October 14th. Abbott Laboratories’s payout ratio is 44.67%.
In other news, VP Philip P. Boudreau sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $126.49, for a total transaction of $1,011,920.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew H. Lane sold 135,925 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $125.47, for a total value of $17,054,509.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 182,783 shares of company stock worth $23,066,012. Corporate insiders own 1.50% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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