Community Bank N.A. decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,010 shares of the healthcare product maker’s stock after selling 550 shares during the period. Community Bank N.A.’s holdings in Abbott Laboratories were worth $3,348,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ABT. Manchester Financial Inc. purchased a new position in Abbott Laboratories during the second quarter valued at $30,000. Redhawk Wealth Advisors Inc. purchased a new position in Abbott Laboratories during the 2nd quarter valued at about $33,000. Marquette Asset Management LLC increased its position in Abbott Laboratories by 173.4% during the 3rd quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after purchasing an additional 300 shares during the period. Pearl River Capital LLC purchased a new position in Abbott Laboratories during the 2nd quarter valued at about $41,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $42,000. Institutional investors own 73.78% of the company’s stock.
In other Abbott Laboratories news, CFO Brian B. Yoor sold 43,763 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $85.77, for a total value of $3,753,552.51. Following the transaction, the chief financial officer now owns 125,781 shares of the company’s stock, valued at $10,788,236.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Joseph J. Manning sold 47,226 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the completion of the transaction, the senior vice president now directly owns 97,755 shares in the company, valued at approximately $8,322,860.70. The disclosure for this sale can be found here. In the last three months, insiders sold 116,497 shares of company stock valued at $9,981,160. 0.70% of the stock is owned by insiders.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.76%. Abbott Laboratories’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. On average, equities research analysts expect that Abbott Laboratories will post 3.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s payout ratio is presently 44.44%.
A number of research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research report on Wednesday, August 21st. William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a research report on Thursday, October 17th. Finally, Credit Suisse Group lifted their price objective on shares of Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $87.61.
Abbott Laboratories Company 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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
See Also: Stop Order
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.