MANA Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 78.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,065 shares of the healthcare product maker’s stock after selling 14,808 shares during the quarter. MANA Advisors LLC’s holdings in Abbott Laboratories were worth $244,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $102,000. SWS Partners bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $104,000. Private Ocean LLC increased its holdings in shares of Abbott Laboratories by 9,868.2% during the first quarter. Private Ocean LLC now owns 2,193 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,171 shares during the period. Cerebellum GP LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $133,000. Finally, We Are One Seven LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $138,000. 71.71% of the stock is currently owned by hedge funds and other institutional investors.
In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $61.20, for a total value of $183,600.00. Following the sale, the insider now owns 95,581 shares in the company, valued at $5,849,557.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jaime Contreras sold 849 shares of the firm’s stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $59.36, for a total transaction of $50,396.64. Following the completion of the sale, the insider now owns 50,436 shares in the company, valued at approximately $2,993,880.96. The disclosure for this sale can be found here. Insiders sold 5,999 shares of company stock worth $359,901 over the last three months. 0.74% of the stock is currently owned by insiders.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. equities analysts predict that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.79%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.
Several brokerages have recently commented on ABT. Citigroup lowered their target price on shares of Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 24th. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a report on Sunday, April 22nd. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Friday, April 20th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus price target of $68.35.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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