Xact Kapitalforvaltning AB lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 272,860 shares of the healthcare product maker’s stock after purchasing an additional 5,403 shares during the period. Xact Kapitalforvaltning AB’s holdings in Abbott Laboratories were worth $14,560,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Heritage Trust Co grew its stake in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at approximately $106,000. Winfield Associates Inc. grew its stake in Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. grew its stake in Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares in the last quarter. Institutional investors own 71.12% of the company’s stock.
In other news, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction 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 sale, the insider now directly owns 25,618 shares of the company’s stock, valued at approximately $1,437,682.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The disclosure for this sale can be found here. Insiders have sold a total of 563,632 shares of company stock valued at $30,840,407 over the last ninety days. 0.76% of the stock is currently owned by insiders.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the previous year, the firm posted $0.59 EPS. The firm’s revenue was up 28.8% compared to the same quarter last year. research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is currently 83.47%.
A number of research firms have recently commented on ABT. Zacks Investment Research upgraded 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 report on Friday, September 22nd. Barclays boosted their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. J P Morgan Chase & Co began coverage on shares of Abbott Laboratories in a research report on Friday, October 6th. They set a “neutral” rating and a $60.00 price target for the company. Jefferies Group restated a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 19th. Finally, Cowen restated a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $57.56.
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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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