Teachers Retirement System of The State of Kentucky decreased its holdings in Abbott Laboratories (NYSE:ABT) by 19.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,480 shares of the healthcare product maker’s stock after selling 77,134 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Abbott Laboratories were worth $17,368,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Heritage Trust Co grew its holdings in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares during the period. Tributary Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth about $106,000. Winfield Associates Inc. boosted its holdings in Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in 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 worth $120,000 after acquiring an additional 370 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in 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 worth $131,000 after acquiring an additional 2,094 shares during the period. Institutional investors own 70.61% of the company’s stock.
Shares of Abbott Laboratories (ABT) traded up $0.24 during mid-day trading on Monday, reaching $57.41. The company had a trading volume of 8,234,201 shares, compared to its average volume of 7,750,000. Abbott Laboratories has a fifty-two week low of $42.31 and a fifty-two week high of $64.60. The company has a market capitalization of $99,930.00, a PE ratio of 287.05, a P/E/G ratio of 1.72 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same quarter last year, the business posted $0.65 earnings per share. The company’s quarterly revenue was up 42.3% on a year-over-year basis. sell-side analysts expect that Abbott Laboratories will post 2.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.95%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is currently 560.00%.
A number of equities analysts have weighed in on ABT shares. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 9th. BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and upped their target price for the company from $58.00 to $65.00 in a research report on Tuesday, December 12th. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price on the stock in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Tuesday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $65.47.
In related news, insider Brian J. Blaser sold 23,866 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $55.55, for a total value of $1,325,756.30. Following the completion of the sale, the insider now directly owns 146,387 shares of the company’s stock, valued at approximately $8,131,797.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total value of $3,913,635.00. Following the completion of the sale, the insider now directly owns 144,955 shares of the company’s stock, valued at $7,972,525. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 445,615 shares of company stock valued at $24,666,341. 0.76% of the stock is currently owned by company insiders.
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Abbott Laboratories Profile
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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