Abbott Laboratories (ABT) Shares Bought by Curbstone Financial Management Corp
Curbstone Financial Management Corp raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 95.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,728 shares of the healthcare product maker’s stock after buying an additional 19,371 shares during the period. Curbstone Financial Management Corp’s holdings in Abbott Laboratories were worth $2,120,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Heritage Trust Co increased its position in shares of Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares in the last quarter. Winfield Associates Inc. increased its position in shares of Abbott Laboratories by 3.9% in the second 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 in the last quarter. Thompson Davis & CO. Inc. increased its position in shares of Abbott Laboratories by 17.7% in the second 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 in the last quarter. JFS Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 349.0% in the second 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 in the last quarter. Finally, Motco increased its position in shares of Abbott Laboratories by 213.7% in the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 1,962 shares in the last quarter. 71.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (NYSE ABT) opened at $55.50 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The company has a market cap of $96,603.35, a P/E ratio of 23.03, a P/E/G ratio of 2.08 and a beta of 1.06. Abbott Laboratories has a fifty-two week low of $37.90 and a fifty-two week high of $56.69.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. analysts anticipate that Abbott Laboratories will post 2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.28 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.02%. Abbott Laboratories’s payout ratio is 83.47%.
Several research analysts have recently weighed in on ABT shares. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research report on Friday, September 1st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada restated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $57.56.
In other Abbott Laboratories 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 value of $15,065,367.26. Following the completion of the sale, the chairman now directly owns 3,677,913 shares in the company, valued at $200,115,246.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the completion of the sale, the insider now owns 102,117 shares of the company’s stock, valued at $5,608,265.64. The disclosure for this sale can be found here. Insiders sold 616,332 shares of company stock valued at $33,579,226 over the last quarter. Corporate insiders own 0.76% of the company’s stock.
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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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