Sandy Spring Bank lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,219 shares of the healthcare product maker’s stock after selling 1,929 shares during the period. Sandy Spring Bank’s holdings in Abbott Laboratories were worth $6,789,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after buying an additional 12,806,535 shares during the last quarter. Day & Ennis LLC boosted its holdings in Abbott Laboratories by 1.4% in the 1st quarter. Day & Ennis LLC now owns 10,641 shares of the healthcare product maker’s stock worth $473,000 after buying an additional 151 shares during the last quarter. Otter Creek Advisors LLC boosted its holdings in Abbott Laboratories by 55.3% in the 1st quarter. Otter Creek Advisors LLC now owns 273,352 shares of the healthcare product maker’s stock worth $12,140,000 after buying an additional 97,352 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Abbott Laboratories in the 1st quarter worth about $4,616,000. Finally, Investment Centers of America Inc. boosted its holdings in Abbott Laboratories by 9.5% in the 1st quarter. Investment Centers of America Inc. now owns 52,264 shares of the healthcare product maker’s stock worth $2,310,000 after buying an additional 4,553 shares during the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
In related news, insider Sharon J. Bracken sold 2,188 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the transaction, the insider now directly owns 25,618 shares in the company, valued at $1,437,682.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total value of $3,913,635.00. Following the completion of the transaction, the insider now owns 144,955 shares in the company, valued at $7,972,525. The disclosure for this sale can be found here. Insiders sold 501,172 shares of company stock worth $27,533,150 over the last quarter. 0.76% of the stock is currently owned by insiders.
Several research firms recently issued reports on ABT. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, January 2nd. Evercore ISI began coverage on Abbott Laboratories in a report on Wednesday. They issued an “outperform” rating and a $64.00 price objective on the stock. Morgan Stanley upgraded Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Tuesday, January 2nd. JPMorgan Chase & Co. upgraded Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective on the stock in a report on Tuesday, January 2nd. Finally, ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $59.59.
Abbott Laboratories (ABT) opened at $58.99 on Friday. The firm has a market capitalization of $102,680.00, a P/E ratio of 48.75, a PEG ratio of 1.87 and a beta of 1.55. Abbott Laboratories has a twelve month low of $39.25 and a twelve month high of $59.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories’s dividend payout ratio is currently 87.60%.
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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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