Fayerweather Charles decreased its holdings in Abbott Laboratories (NYSE:ABT) by 2.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,418 shares of the healthcare product maker’s stock after selling 900 shares during the period. Abbott Laboratories makes up about 3.7% of Fayerweather Charles’ holdings, making the stock its 9th biggest holding. Fayerweather Charles’ holdings in Abbott Laboratories were worth $2,380,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in ABT. Grassi Investment Management raised its holdings in Abbott Laboratories by 0.6% in the 3rd quarter. Grassi Investment Management now owns 123,859 shares of the healthcare product maker’s stock worth $9,086,000 after purchasing an additional 776 shares in the last quarter. City Holding Co. raised its holdings in Abbott Laboratories by 1.6% in the 2nd quarter. City Holding Co. now owns 50,654 shares of the healthcare product maker’s stock worth $3,089,000 after purchasing an additional 782 shares in the last quarter. Burns J W & Co. Inc. NY raised its holdings in Abbott Laboratories by 3.2% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 25,006 shares of the healthcare product maker’s stock worth $1,834,000 after purchasing an additional 785 shares in the last quarter. Fulton Bank N.A. raised its holdings in Abbott Laboratories by 4.3% in the 3rd quarter. Fulton Bank N.A. now owns 19,375 shares of the healthcare product maker’s stock worth $1,421,000 after purchasing an additional 791 shares in the last quarter. Finally, Moody National Bank Trust Division raised its holdings in Abbott Laboratories by 7.3% in the 2nd quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock worth $717,000 after purchasing an additional 795 shares in the last quarter. 72.16% of the stock is owned by institutional investors.
Shares of Abbott Laboratories stock opened at $70.95 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16. The stock has a market capitalization of $128.70 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49. Abbott Laboratories has a 1 year low of $53.61 and a 1 year high of $74.15.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.71 billion. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. Abbott Laboratories’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. Equities research analysts expect that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.58%. Abbott Laboratories’s payout ratio is 44.80%.
Several research analysts have commented on the stock. Barclays assumed coverage on shares of Abbott Laboratories in a report on Monday. They issued an “overweight” rating and a $80.00 price objective for the company. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, October 11th. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 11th. Zacks Investment Research lowered shares of Abbott Laboratories from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Abbott Laboratories from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $74.28.
In related news, insider Andrew H. Lane sold 9,097 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total value of $610,499.67. Following the completion of the transaction, the insider now directly owns 35,576 shares in the company, valued at approximately $2,387,505.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian J. Blaser sold 15,100 shares of the stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $965,796.00. Following the completion of the transaction, the executive vice president now owns 151,718 shares of the company’s stock, valued at $9,703,883.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,321 shares of company stock valued at $10,492,583. 0.74% of the stock is owned by company insiders.
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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