Abbott Laboratories (ABT) Shares Sold by Resources Investment Advisors Inc.
Resources Investment Advisors Inc. lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 68.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,115 shares of the healthcare product maker’s stock after selling 4,515 shares during the quarter. Resources Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in ABT. Rowland & Co. Investment Counsel ADV purchased a new position in Abbott Laboratories during the 4th quarter worth approximately $102,000. Heritage Trust Co grew its stake in Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares during the last quarter. Tributary Capital Management LLC purchased a new position in Abbott Laboratories during the 3rd quarter worth approximately $106,000. Thompson Davis & CO. Inc. grew its stake in Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after buying an additional 370 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in Abbott Laboratories during the 4th quarter worth approximately $133,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.
Shares of Abbott Laboratories (ABT) opened at $59.46 on Friday. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $103,837.02, a P/E ratio of 228.70, a PEG ratio of 1.79 and a beta of 1.52. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.88%. Abbott Laboratories’s dividend payout ratio is currently 430.79%.
ABT has been the topic of a number of research reports. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. BMO Capital Markets upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $65.00 in a research note on Tuesday, December 12th. Zacks Investment Research downgraded Abbott Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Morgan Stanley upgraded Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. upgraded Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 target price on the stock in a research note on Tuesday, January 2nd. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $65.47.
In other news, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was 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 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 link. Also, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total value of $836,588.92. Following the completion of the sale, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The disclosure for this sale can be found here. Insiders sold a total of 416,104 shares of company stock valued at $23,352,057 over the last three months. Insiders own 0.76% of the company’s stock.
WARNING: This article was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.watchlistnews.com/abbott-laboratories-abt-shares-sold-by-resources-investment-advisors-inc/1906632.html.
Abbott Laboratories 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.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.