Tufton Capital Management cut its position in Abbott Laboratories (NYSE:ABT) by 2.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 113,262 shares of the healthcare product maker’s stock after selling 2,553 shares during the quarter. Tufton Capital Management’s holdings in Abbott Laboratories were worth $6,464,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $102,000. Heritage Trust Co raised its holdings in shares of Abbott Laboratories by 10.1% during the second 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 during the last quarter. Tributary Capital Management LLC purchased a new position in shares of Abbott Laboratories during the third quarter valued at approximately $106,000. Thompson Davis & CO. Inc. raised its holdings in shares of Abbott Laboratories by 17.7% during the second 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 during the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $133,000. 70.01% of the stock is owned by institutional investors and hedge funds.
ABT has been the subject of several research reports. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, October 30th. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $58.00 to $65.00 in a report on Tuesday, December 12th. Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective for the company in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective for the company in a report on Tuesday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $65.47.
In other Abbott Laboratories news, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, the chairman now directly owns 3,677,913 shares in the company, valued at $200,115,246.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen R. Fussell sold 56,401 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the completion of the transaction, the insider now owns 184,884 shares of the company’s stock, valued at $11,020,935.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 405,137 shares of company stock valued at $22,686,356. Company insiders own 0.76% of the company’s stock.
Shares of Abbott Laboratories (ABT) opened at $59.71 on Friday. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60. The company has a market cap of $104,273.60, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.79 and a beta of 1.56. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.87.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 42.3% on a year-over-year basis. equities research analysts predict that Abbott Laboratories will post 2.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.88%. Abbott Laboratories’s payout ratio is currently 430.79%.
Abbott Laboratories Company 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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