Chicago Equity Partners LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 52.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,343 shares of the healthcare product maker’s stock after selling 3,730 shares during the period. Chicago Equity Partners LLC’s holdings in Abbott Laboratories were worth $200,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. IFG Advisory LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth about $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new position in Abbott Laboratories in the 4th quarter valued at about $102,000. Icon Wealth Partners LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at about $102,000. SWS Partners purchased a new position in Abbott Laboratories in the 4th quarter valued at about $104,000. Finally, Cerebellum GP LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at about $133,000. Institutional investors and hedge funds own 71.71% of the company’s stock.
ABT traded up $0.33 on Thursday, reaching $62.96. 3,980,125 shares of the company’s stock were exchanged, compared to its average volume of 6,492,818. The company has a market cap of $110.68 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.81 and a beta of 1.51. Abbott Laboratories has a twelve month low of $47.37 and a twelve month high of $64.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.66.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. sell-side analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.
In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 3,000 shares of the stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $61.20, for a total value of $183,600.00. Following the completion of the sale, the insider now owns 95,581 shares of the company’s stock, valued at $5,849,557.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sharon J. Bracken sold 2,150 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $58.56, for a total transaction of $125,904.00. Following the completion of the sale, the senior vice president now directly owns 43,990 shares of the company’s stock, valued at approximately $2,576,054.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,999 shares of company stock valued at $359,901. Corporate insiders own 0.74% of the company’s stock.
ABT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Friday, April 20th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a report on Sunday, April 22nd. Citigroup reduced their target price on shares of Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 24th. Finally, ValuEngine upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $68.35.
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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