Chartwell Investment Partners LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 167,525 shares of the healthcare product maker’s stock after selling 12,690 shares during the period. Chartwell Investment Partners LLC’s holdings in Abbott Laboratories were worth $8,143,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Villere ST Denis J & Co. LLC boosted its position in shares of Abbott Laboratories by 2.3% during the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after purchasing an additional 5,950 shares in the last quarter. Private Bank & Trust Co. boosted its position in shares of Abbott Laboratories by 12.3% during the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after purchasing an additional 3,330 shares in the last quarter. Comerica Securities Inc. bought a new position in shares of Abbott Laboratories during the first quarter worth $2,833,000. AQR Capital Management LLC boosted its position in shares of Abbott Laboratories by 264.8% during the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after purchasing an additional 460,477 shares in the last quarter. Finally, Century Capital Management LLC bought a new position in shares of Abbott Laboratories during the first quarter worth $4,332,000. 71.35% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the stock. Citigroup Inc. assumed coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price target on the stock. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Friday, September 22nd. Barclays PLC lifted their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. J P Morgan Chase & Co assumed coverage on shares of Abbott Laboratories in a research report on Friday, October 6th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.81.
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Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 14.50%. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same period last year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 28.8% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 83.47%.
In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the firm’s stock in a transaction on 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 $3,052,665.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares in the company, valued at $10,963,656. The disclosure for this sale can be found here. Insiders sold 408,313 shares of company stock worth $21,205,356 over the last ninety days. Insiders own 0.76% of the company’s stock.
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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