Clear Perspective Advisors LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,443 shares of the healthcare product maker’s stock after selling 270 shares during the period. Clear Perspective Advisors LLC’s holdings in Abbott Laboratories were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Colonial River Wealth Management LLC bought a new position in shares of Abbott Laboratories in the second quarter worth about $216,000. Intellectus Partners LLC grew its position in shares of Abbott Laboratories by 3.7% during the 2nd quarter. Intellectus Partners LLC now owns 13,147 shares of the healthcare product maker’s stock worth $1,524,000 after buying an additional 468 shares during the period. Ossiam grew its position in shares of Abbott Laboratories by 50.5% during the 2nd quarter. Ossiam now owns 302,905 shares of the healthcare product maker’s stock worth $36,645,000 after buying an additional 101,699 shares during the period. Natixis grew its position in shares of Abbott Laboratories by 80.5% during the 2nd quarter. Natixis now owns 761,617 shares of the healthcare product maker’s stock worth $88,294,000 after buying an additional 339,574 shares during the period. Finally, Covington Capital Management grew its position in shares of Abbott Laboratories by 2.3% during the 2nd quarter. Covington Capital Management now owns 240,028 shares of the healthcare product maker’s stock worth $27,826,000 after buying an additional 5,406 shares during the period. 72.05% of the stock is owned by institutional investors.
In other Abbott Laboratories news, SVP Randel William Woodgrift sold 6,350 shares of the company’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $129.00, for a total transaction of $819,150.00. Following the sale, the senior vice president now directly owns 50,093 shares of the company’s stock, valued at $6,461,997. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Pederson sold 23,008 shares of the company’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $129.05, for a total transaction of $2,969,182.40. The disclosure for this sale can be found here. In the last three months, insiders sold 222,883 shares of company stock worth $27,964,400. 1.50% of the stock is currently owned by insiders.
ABT traded up $0.43 during trading on Thursday, reaching $117.43. The company had a trading volume of 61,995 shares, compared to its average volume of 5,370,625. The business’s fifty day moving average price is $123.59 and its 200 day moving average price is $119.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36. The company has a market cap of $208.18 billion, a P/E ratio of 32.96, a PEG ratio of 2.45 and a beta of 0.66. Abbott Laboratories has a 12 month low of $103.13 and a 12 month high of $129.70.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 21st. The healthcare product maker reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.15. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $9.67 billion. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The firm’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. As a group, sell-side analysts predict that Abbott Laboratories will post 4.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, October 14th. Abbott Laboratories’s dividend payout ratio is presently 49.32%.
Abbott Laboratories Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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