Symphony Asset Management LLC Decreases Holdings in Abbott Laboratories (ABT)

Symphony Asset Management LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 11.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,206 shares of the healthcare product maker’s stock after selling 13,197 shares during the period. Symphony Asset Management LLC’s holdings in Abbott Laboratories were worth $4,920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABT. Heritage Trust Co increased its holdings in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Winfield Associates Inc. increased its holdings in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in shares of Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. Finally, Motco increased its holdings in shares of Abbott Laboratories by 213.7% during the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock valued at $140,000 after purchasing an additional 1,962 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

In related news, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. In the last three months, insiders sold 311,127 shares of company stock valued at $16,958,579. 0.76% of the stock is owned by insiders.

Shares of Abbott Laboratories (ABT) opened at $55.98 on Monday. The company has a market cap of $97,438.84, a price-to-earnings ratio of 23.23, a P/E/G ratio of 2.10 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 1-year low of $37.42 and a 1-year high of $56.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s payout ratio is presently 83.47%.

ABT has been the subject of several recent research reports. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, October 31st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Jefferies Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a report on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and set a $60.00 target price (up from $56.00) on shares of Abbott Laboratories in a report on Wednesday, October 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Eight research 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 a consensus rating of “Buy” and a consensus price target of $56.81.

COPYRIGHT VIOLATION WARNING: This story was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.com-unik.info/2017/12/04/symphony-asset-management-llc-decreases-holdings-in-abbott-laboratories-abt.html.

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.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

What are top analysts saying about Abbott Laboratories? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Abbott Laboratories and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit