Abbott Laboratories (ABT) Position Lessened by YHB Investment Advisors Inc.
YHB Investment Advisors Inc. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 70.5% in the third quarter, HoldingsChannel reports. The firm owned 10,144 shares of the healthcare product maker’s stock after selling 24,288 shares during the period. YHB Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $541,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Gardiner Nancy B increased its position in Abbott Laboratories by 5.8% in the 1st quarter. Gardiner Nancy B now owns 21,692 shares of the healthcare product maker’s stock valued at $964,000 after acquiring an additional 1,195 shares in the last quarter. Broderick Brian C increased its position in Abbott Laboratories by 8.7% in the 1st quarter. Broderick Brian C now owns 119,590 shares of the healthcare product maker’s stock valued at $5,311,000 after acquiring an additional 9,575 shares in the last quarter. Puzo Michael J increased its position in Abbott Laboratories by 2.9% in the 1st quarter. Puzo Michael J now owns 74,996 shares of the healthcare product maker’s stock valued at $3,331,000 after acquiring an additional 2,100 shares in the last quarter. Zions Bancorporation increased its position in Abbott Laboratories by 6.8% in the 1st quarter. Zions Bancorporation now owns 8,356 shares of the healthcare product maker’s stock valued at $373,000 after acquiring an additional 532 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at about $205,000. Institutional investors and hedge funds own 71.15% of the company’s stock.
In related news, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the transaction, the chairman now owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total transaction of $3,913,635.00. Following the transaction, the insider now directly owns 144,955 shares in the company, valued at approximately $7,972,525. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock worth $27,533,150 in the last three months. 0.76% of the stock is owned by insiders.
Several equities research analysts have weighed in on the stock. Royal Bank of Canada restated a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a research report on Tuesday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Barclays raised 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. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price (up previously from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. Finally, ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $60.24.
Abbott Laboratories (ABT) opened at $58.92 on Wednesday. The stock has a market cap of $102,560.00, a PE ratio of 48.69, a PEG ratio of 1.88 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 has a one year low of $39.25 and a one year high of $59.60.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter last year, the firm earned $0.59 EPS. Abbott Laboratories’s quarterly revenue was up 28.8% compared to the same quarter last year. sell-side analysts expect 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. Investors of record on Friday, January 12th will be paid a dividend of $0.28 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 annualized dividend and a yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 87.60%.
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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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