Abbott Laboratories (NYSE:ABT) Holdings Decreased by Gamble Jones Investment Counsel

Gamble Jones Investment Counsel decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 255,350 shares of the healthcare product maker’s stock after selling 2,090 shares during the period. Abbott Laboratories makes up approximately 1.8% of Gamble Jones Investment Counsel’s investment portfolio, making the stock its 9th largest holding. Gamble Jones Investment Counsel’s holdings in Abbott Laboratories were worth $21,365,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Cumberland Partners Ltd boosted its position in Abbott Laboratories by 25.0% in the second quarter. Cumberland Partners Ltd now owns 4,500 shares of the healthcare product maker’s stock valued at $378,000 after buying an additional 900 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Abbott Laboratories by 91.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock valued at $122,138,000 after buying an additional 694,262 shares during the last quarter. Cypress Capital Management LLC boosted its position in Abbott Laboratories by 2.0% in the second quarter. Cypress Capital Management LLC now owns 203,419 shares of the healthcare product maker’s stock valued at $17,108,000 after buying an additional 4,000 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Abbott Laboratories by 3.8% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after buying an additional 116 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in Abbott Laboratories by 20.7% in the second quarter. Cresset Asset Management LLC now owns 29,187 shares of the healthcare product maker’s stock valued at $2,455,000 after acquiring an additional 5,012 shares during the period. Institutional investors and hedge funds own 73.77% of the company’s stock.

Shares of ABT stock opened at $83.74 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.12. The company has a market cap of $145.61 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.38 and a beta of 1.13. The stock has a 50 day simple moving average of $82.03 and a 200-day simple moving average of $82.26. Abbott Laboratories has a 1-year low of $65.44 and a 1-year high of $88.76.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. Analysts anticipate that Abbott Laboratories will post 3.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s payout ratio is 44.44%.

A number of brokerages have issued reports on ABT. Cowen boosted their price target on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley boosted their price target on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Credit Suisse Group boosted their price target on Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, BMO Capital Markets boosted their price target on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. 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 has an average rating of “Buy” and an average target price of $87.61.

In other news, SVP Joseph J. Manning sold 47,226 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $8,322,860.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Randel William Woodgrift sold 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the transaction, the senior vice president now directly owns 68,562 shares of the company’s stock, valued at $5,521,983.48. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

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 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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