Abbott Laboratories (ABT) Shares Sold by Meristem LLP
Meristem LLP decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 11,241 shares of the healthcare product maker’s stock after selling 250 shares during the period. Meristem LLP’s holdings in Abbott Laboratories were worth $442,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Parasol Investment Management LLC boosted its position in Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares during the last quarter. CapWealth Advisors LLC boosted its position in Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares during the last quarter. Delta Asset Management LLC TN boosted its position in Abbott Laboratories by 2.8% in the second quarter. Delta Asset Management LLC TN now owns 3,695 shares of the healthcare product maker’s stock valued at $146,000 after buying an additional 100 shares during the last quarter. Cribstone Capital Management LLC purchased a new position in Abbott Laboratories during the second quarter valued at $150,000. Finally, Alpha Windward LLC boosted its position in Abbott Laboratories by 22.7% in the second quarter. Alpha Windward LLC now owns 5,115 shares of the healthcare product maker’s stock valued at $201,000 after buying an additional 945 shares during the last quarter. 73.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) traded up 1.82% during mid-day trading on Friday, reaching $41.87. 15,790,211 shares of the company’s stock traded hands. The stock has a market capitalization of $61.55 billion, a PE ratio of 27.64 and a beta of 0.82. The company’s 50-day moving average price is $43.68 and its 200-day moving average price is $41.08. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.38.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.48%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.87%.
Several research firms have recently weighed in on ABT. Barclays PLC reissued a “buy” rating and set a $48.00 price target on shares of Abbott Laboratories in a report on Saturday, June 18th. TheStreet cut Abbott Laboratories to a “hold” rating in a report on Thursday, May 26th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, July 5th. Jefferies Group raised their target price on Abbott Laboratories from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $45.00 target price on shares of Abbott Laboratories in a report on Wednesday, August 10th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $46.83.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 41,500 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $45.00, for a total value of $1,867,500.00. Following the completion of the transaction, the insider now owns 196,467 shares in the company, valued at $8,841,015. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Miles D. White acquired 242,547 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was purchased at an average price of $43.18 per share, with a total value of $10,473,179.46. Following the transaction, the chairman now owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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