Shelton Capital Management lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 57.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,117 shares of the healthcare product maker’s stock after selling 104,917 shares during the period. Shelton Capital Management’s holdings in Abbott Laboratories were worth $4,168,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tributary Capital Management LLC bought a new stake in Abbott Laboratories in the third quarter valued at approximately $106,000. Heritage Trust Co raised its stake in Abbott Laboratories by 10.1% in the second 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 during the period. Thompson Davis & CO. Inc. raised its stake in 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 valued at $120,000 after buying an additional 370 shares during the period. JFS Wealth Advisors LLC raised its stake in 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 valued at $131,000 after buying an additional 2,094 shares during the period. Finally, Motco raised its stake in Abbott Laboratories by 213.7% in the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock valued at $140,000 after buying an additional 1,962 shares during the period. Institutional investors and hedge funds own 71.22% of the company’s stock.
Several analysts have issued reports on the company. BMO Capital Markets restated a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Wells Fargo & Co increased their target price on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Leerink Swann reiterated a “market perform” rating on shares of Abbott Laboratories in a research note on Friday, January 19th. Bank of America increased their target price on Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $67.00 target price on shares of Abbott Laboratories in a research note on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $65.47.
Shares of Abbott Laboratories (NYSE ABT) opened at $58.86 on Wednesday. The stock has a market capitalization of $102,225.49, a P/E ratio of 23.49, a P/E/G ratio of 1.78 and a beta of 1.55. Abbott Laboratories has a 12-month low of $42.28 and a 12-month high of $64.60. 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 (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 earnings per share. analysts forecast that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is currently 430.79%.
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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