Marshall Wace North America L.P. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 48.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 774,430 shares of the healthcare product maker’s stock after selling 732,608 shares during the quarter. Marshall Wace North America L.P.’s holdings in Abbott Laboratories were worth $37,947,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Winfield Associates Inc. boosted its position in Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after purchasing an additional 89 shares during the period. V Wealth Management LLC bought a new position in Abbott Laboratories during the second quarter worth $127,000. JFS Wealth Advisors LLC boosted its position in Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,094 shares during the period. Lee Financial Co boosted its position in Abbott Laboratories by 1.7% during the second quarter. Lee Financial Co now owns 3,388 shares of the healthcare product maker’s stock worth $165,000 after purchasing an additional 57 shares during the period. Finally, Farmers National Bank lifted its holdings in shares of Abbott Laboratories by 1.5% during the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after buying an additional 52 shares in the last quarter. 71.39% of the stock is owned by hedge funds and other institutional investors.
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A number of equities research analysts have recently weighed in on ABT shares. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. J P Morgan Chase & Co started coverage on Abbott Laboratories in a report on Friday, October 6th. They set a “neutral” rating and a $60.00 target price for the company. Royal Bank Of Canada reissued a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Cowen and Company set a $68.00 target price on Abbott Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Barclays PLC reissued an “overweight” rating and set a $57.00 target price (up previously from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.81.
Shares of Abbott Laboratories (ABT) opened at $55.47 on Monday. The firm has a market capitalization of $96,551.14, a PE ratio of 23.02, a PEG ratio of 2.08 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a twelve month low of $37.38 and a twelve month high of $56.69.
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, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. research analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s payout ratio is presently 83.47%.
In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares in the company, valued at approximately $3,052,665.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total value of $9,729,225.00. Following the transaction, the insider now 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 quarter. 0.76% of the stock is currently owned by company insiders.
About Abbott Laboratories
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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