Abbott Laboratories (ABT) Holdings Reduced by South State Corp

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.

In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the company’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 value of $5,430,054.63. Following the completion of the transaction, the executive vice president now owns 142,082 shares in the company, valued at $7,986,429.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sharon J. Bracken sold 2,188 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the completion of the transaction, the insider now owns 25,618 shares of the company’s stock, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,127 shares of company stock valued at $16,958,579. Corporate insiders own 0.76% of the company’s stock.

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%.

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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.

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

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