South State Corp cut its position in Abbott Laboratories (NYSE:ABT) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,607 shares of the healthcare product maker’s stock after selling 1,689 shares during the period. South State Corp’s holdings in Abbott Laboratories were worth $3,238,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Heritage Trust Co raised its stake in shares of Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares during the last quarter. Winfield Associates Inc. raised its stake in shares of Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,094 shares during the last quarter. Finally, Motco raised its stake in shares of Abbott Laboratories by 213.7% in the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 1,962 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.
ABT has been the subject of a number of recent research reports. Cowen reissued a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 17th. Citigroup initiated coverage on shares of Abbott Laboratories in a research note on Thursday, August 17th. They set a “neutral” rating and a $53.00 price target for the company. BMO Capital Markets reissued a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a research note on Friday, September 1st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, September 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $57.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $56.81.
Abbott Laboratories (NYSE:ABT) opened at $54.71 on Tuesday. The stock has a market cap of $97,438.84, a P/E ratio of 23.23, a P/E/G ratio of 2.10 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 1-year low of $37.42 and a 1-year high of $56.69.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion during 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 13.98%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. equities analysts forecast that Abbott Laboratories will post 2.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
WARNING: “Abbott Laboratories (ABT) Holdings Reduced by South State Corp” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.com-unik.info/2017/12/05/abbott-laboratories-abt-holdings-reduced-by-south-state-corp.html.
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.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.