Community Bank N.A. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,836 shares of the healthcare product maker’s stock after selling 140 shares during the period. Community Bank N.A.’s holdings in Abbott Laboratories were worth $2,179,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in Abbott Laboratories by 18.9% during the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after purchasing an additional 12,806,535 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Abbott Laboratories by 11.0% during the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after purchasing an additional 3,344,508 shares during the last quarter. Boston Partners boosted its position in Abbott Laboratories by 28.1% during the second quarter. Boston Partners now owns 10,516,502 shares of the healthcare product maker’s stock valued at $511,207,000 after purchasing an additional 2,304,467 shares during the last quarter. Independent Franchise Partners LLP boosted its position in Abbott Laboratories by 0.8% during the second quarter. Independent Franchise Partners LLP now owns 9,828,141 shares of the healthcare product maker’s stock valued at $477,745,000 after purchasing an additional 76,935 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Abbott Laboratories by 33.8% during the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock valued at $391,841,000 after purchasing an additional 2,231,316 shares during the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on ABT. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 19th. Royal Bank Of Canada lifted their price objective on Abbott Laboratories from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, October 19th. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Cowen and Company set a $68.00 price objective on Abbott Laboratories and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $56.81.
Shares of Abbott Laboratories (NYSE:ABT) opened at 54.29 on Tuesday. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.69. The firm has a market cap of $94.33 billion, a PE ratio of 76.04 and a beta of 1.06. The firm has a 50 day moving average price of $53.88 and a 200-day moving average price of $49.09.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 14.50%. The business’s revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. On average, analysts predict that Abbott Laboratories will post $2.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.95%. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
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In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the transaction, the executive vice president now directly owns 142,082 shares in the company, valued at $7,986,429.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 408,313 shares of company stock worth $21,205,356. Insiders own 0.76% of the company’s stock.
Abbott Laboratories 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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