Roanoke Asset Management Corp NY lessened its holdings in Abbott Laboratories (NYSE:ABT) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,875 shares of the healthcare product maker’s stock after selling 3,410 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Abbott Laboratories were worth $2,768,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Tributary Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $106,000. Heritage Trust Co boosted its stake in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Winfield Associates Inc. boosted its stake in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. 71.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) opened at $58.84 on Friday. The firm has a market capitalization of $102,420.00, a PE ratio of 48.63, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. Abbott Laboratories has a twelve month low of $39.25 and a twelve month high of $59.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. equities analysts anticipate that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is currently 92.56%.
Several brokerages have recently commented on ABT. Barclays boosted their target price on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 28th. Evercore ISI initiated coverage on shares of Abbott Laboratories in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price target on the stock. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a research report on Monday, October 2nd. Finally, Stifel Nicolaus upped their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $60.24.
In other news, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the sale, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at $572,900.16. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock valued at $27,533,150 over the last three months. Company insiders own 0.76% of the company’s stock.
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About Abbott Laboratories
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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