Brooktree Capital Management trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.6% in the third quarter, Holdings Channel.com reports. The firm owned 15,448 shares of the healthcare product maker’s stock after selling 256 shares during the quarter. Abbott Laboratories comprises about 1.4% of Brooktree Capital Management’s portfolio, making the stock its 25th largest position. Brooktree Capital Management’s holdings in Abbott Laboratories were worth $1,681,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Abbott Laboratories by 5.2% in the 2nd quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock valued at $12,319,776,000 after purchasing an additional 6,621,486 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Abbott Laboratories by 93.7% in the 2nd quarter. Fisher Asset Management LLC now owns 6,904,344 shares of the healthcare product maker’s stock worth $631,264,000 after buying an additional 3,340,466 shares during the period. GQG Partners LLC boosted its holdings in Abbott Laboratories by 29.3% in the second quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock valued at $1,146,169,000 after acquiring an additional 2,841,074 shares during the last quarter. Morgan Stanley increased its stake in Abbott Laboratories by 11.3% during the first quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock worth $2,001,335,000 after acquiring an additional 2,578,161 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Abbott Laboratories by 89.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,936,633 shares of the healthcare product maker’s stock worth $427,825,000 after purchasing an additional 1,855,718 shares during the period. 73.09% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on ABT shares. Credit Suisse Group reduced their price target on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. JPMorgan Chase & Co. lifted their target price on Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. Morgan Stanley boosted their price target on Abbott Laboratories from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Raymond James raised their price objective on Abbott Laboratories from $102.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Finally, Wolfe Research started coverage on Abbott Laboratories in a research report on Friday, September 11th. They issued an “outperform” rating and a $124.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $115.29.
Shares of NYSE:ABT traded up $0.54 during trading on Tuesday, reaching $114.21. 48,278 shares of the company’s stock traded hands, compared to its average volume of 7,007,914. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. Abbott Laboratories has a 12 month low of $61.61 and a 12 month high of $115.14. The company has a 50 day moving average of $108.82 and a 200-day moving average of $99.85. The stock has a market capitalization of $201.46 billion, a P/E ratio of 60.14, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 16th. Investors of record on Thursday, October 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
In other Abbott Laboratories news, SVP Randel William Woodgrift sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $105.28, for a total value of $263,200.00. Following the sale, the senior vice president now owns 46,267 shares in the company, valued at $4,870,989.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert E. Funck sold 83,333 shares of Abbott Laboratories stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $108.83, for a total value of $9,069,130.39. Following the sale, the chief financial officer now directly owns 265,550 shares in the company, valued at approximately $28,899,806.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,252 shares of company stock valued at $18,352,259. Insiders own 1.70% of the company’s stock.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; MÃ©niÃ¨re's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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