Abbott Laboratories (ABT) Shares Sold by Argent Trust Co
Argent Trust Co cut its position in Abbott Laboratories (NYSE:ABT) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,342 shares of the healthcare product maker’s stock after selling 920 shares during the quarter. Argent Trust Co’s holdings in Abbott Laboratories were worth $1,377,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sanders Morris Harris LLC boosted its position in shares of Abbott Laboratories by 0.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after purchasing an additional 16 shares during the period. St. Louis Trust Co boosted its position in shares of Abbott Laboratories by 0.4% in the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after purchasing an additional 20 shares during the period. Alpha Windward LLC boosted its position in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock valued at $264,000 after purchasing an additional 30 shares during the period. Lakeview Capital Partners LLC raised its stake in Abbott Laboratories by 0.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after acquiring an additional 33 shares during the last quarter. Finally, Johanson Financial Advisors Inc. raised its stake in Abbott Laboratories by 0.5% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after acquiring an additional 37 shares during the last quarter. 69.99% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the company. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Barclays PLC upped their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 28th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price objective on shares of Abbott Laboratories in a research note on Monday, October 2nd. Finally, Stifel Nicolaus upped their price objective on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $56.81.
In other news, insider Jaime Contreras sold 52,700 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the completion of the transaction, the insider now directly owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the transaction, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 308,939 shares of company stock valued at $16,835,789. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE ABT) opened at $56.13 on Monday. The stock has a market capitalization of $97,699.93, a P/E ratio of 23.29, a PEG ratio of 2.10 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. research analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 83.47%.
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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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