Home Federal Bank of Tennessee Has $1.28 Million Position in Abbott Laboratories (ABT)

Home Federal Bank of Tennessee cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,475 shares of the healthcare product maker’s stock after selling 2,320 shares during the period. Home Federal Bank of Tennessee’s holdings in Abbott Laboratories were worth $1,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC lifted its position 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 valued at $131,000 after acquiring an additional 2,094 shares in the last quarter. First Western Capital Management Co lifted its position in shares of Abbott Laboratories by 0.7% in the second quarter. First Western Capital Management Co now owns 82,192 shares of the healthcare product maker’s stock valued at $3,995,000 after acquiring an additional 549 shares in the last quarter. Ronald Blue & Co. LLC lifted its position in shares of Abbott Laboratories by 0.9% in the second quarter. Ronald Blue & Co. LLC now owns 8,368 shares of the healthcare product maker’s stock valued at $407,000 after acquiring an additional 71 shares in the last quarter. Bank of Stockton lifted its position in shares of Abbott Laboratories by 6.7% in the second quarter. Bank of Stockton now owns 14,075 shares of the healthcare product maker’s stock valued at $684,000 after acquiring an additional 885 shares in the last quarter. Finally, Parsec Financial Management Inc. lifted its position in shares of Abbott Laboratories by 4.7% in the second quarter. Parsec Financial Management Inc. now owns 249,054 shares of the healthcare product maker’s stock valued at $12,107,000 after acquiring an additional 11,134 shares in the last quarter. Institutional investors own 71.22% of the company’s stock.

Shares of Abbott Laboratories (NYSE ABT) opened at $57.17 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The company has a market capitalization of $101,100.00, a PE ratio of 285.85, a P/E/G ratio of 1.69 and a beta of 1.55. Abbott Laboratories has a 52-week low of $42.31 and a 52-week high of $64.60.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company 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 revenue for the quarter was up 42.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a $0.28 dividend. 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 1.96%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is currently 560.00%.

In other Abbott Laboratories news, EVP Stephen R. Fussell sold 13,313 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the sale, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian J. Blaser sold 27,733 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total value of $1,726,656.58. Following the sale, the insider now directly owns 156,587 shares in the company, valued at $9,749,106.62. The disclosure for this sale can be found here. Insiders sold 445,615 shares of company stock worth $24,666,341 over the last quarter. 0.76% of the stock is owned by company insiders.

Several equities analysts have recently commented on ABT shares. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Barclays restated a “buy” rating and issued a $66.00 price objective on shares of Abbott Laboratories in a research report on Monday, January 8th. BTIG Research downgraded Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $65.47.

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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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