Front Barnett Associates LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,076 shares of the healthcare product maker’s stock after selling 50 shares during the period. Front Barnett Associates LLC’s holdings in Abbott Laboratories were worth $830,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Wellington Shields Capital Management LLC lifted its stake in Abbott Laboratories by 2.0% during the first quarter. Wellington Shields Capital Management LLC now owns 30,918 shares of the healthcare product maker’s stock worth $1,373,000 after purchasing an additional 600 shares during the period. Horan Capital Advisors LLC. lifted its stake in Abbott Laboratories by 6.5% during the first quarter. Horan Capital Advisors LLC. now owns 49,802 shares of the healthcare product maker’s stock worth $2,212,000 after purchasing an additional 3,050 shares during the period. Bank of New York Mellon Corp lifted its stake 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 worth $1,500,920,000 after purchasing an additional 3,344,508 shares during the period. Suntrust Banks Inc. lifted its stake in Abbott Laboratories by 3.1% during the first quarter. Suntrust Banks Inc. now owns 798,945 shares of the healthcare product maker’s stock worth $35,480,000 after purchasing an additional 24,090 shares during the period. Finally, Baltimore Capital Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $256,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.
Shares of Abbott Laboratories (NYSE ABT) opened at $55.29 on Tuesday. Abbott Laboratories has a fifty-two week low of $37.38 and a fifty-two week high of $56.69. The firm has a market cap of $96,240.00, a P/E ratio of 23.05, a P/E/G ratio of 2.08 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.92%. Abbott Laboratories’s payout ratio is presently 87.60%.
Several research firms have recently weighed in on ABT. BidaskClub lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Barclays PLC raised their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.81.
In other Abbott Laboratories news, insider Brian J. Blaser sold 23,866 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. The sale 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 firm’s stock in a transaction that occurred on 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 ninety days, insiders sold 306,786 shares of company stock worth $16,715,522. 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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