Knights of Columbus Asset Advisors LLC Decreases Position in Abbott Laboratories (ABT)
Knights of Columbus Asset Advisors LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 5.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,109 shares of the healthcare product maker’s stock after selling 2,300 shares during the period. Abbott Laboratories accounts for about 1.2% of Knights of Columbus Asset Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. Knights of Columbus Asset Advisors LLC’s holdings in Abbott Laboratories were worth $1,804,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Capital Planning Advisors LLC lifted its holdings in Abbott Laboratories by 21.8% in the second quarter. Capital Planning Advisors LLC now owns 66,037 shares of the healthcare product maker’s stock worth $3,210,000 after acquiring an additional 11,838 shares during the last quarter. Brookstone Capital Management bought a new position in Abbott Laboratories in the second quarter worth about $203,000. Schulhoff & Co. Inc. lifted its holdings in Abbott Laboratories by 0.8% in the second quarter. Schulhoff & Co. Inc. now owns 24,209 shares of the healthcare product maker’s stock worth $1,176,000 after acquiring an additional 200 shares during the last quarter. Buckingham Asset Management LLC lifted its holdings in Abbott Laboratories by 70.2% in the second quarter. Buckingham Asset Management LLC now owns 25,461 shares of the healthcare product maker’s stock worth $1,238,000 after acquiring an additional 10,498 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in Abbott Laboratories by 2.4% in the second quarter. Neuberger Berman Group LLC now owns 864,473 shares of the healthcare product maker’s stock worth $42,022,000 after acquiring an additional 20,660 shares during the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.
ABT has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a report on Tuesday, October 3rd. 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 report on Tuesday, October 31st. Bank of America Corporation reissued a “buy” rating and issued a $60.00 target price (up previously from $56.00) on shares of Abbott Laboratories in a report on Wednesday, October 4th. Barclays PLC reaffirmed an “overweight” rating and set a $57.00 price target (up previously from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a report on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $56.81.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction that occurred on Monday, October 23rd. The shares were 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 owns 142,082 shares in the company, valued at $7,986,429.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories 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 owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,763 shares of company stock worth $11,476,131. 0.76% of the stock is currently owned by company insiders.
Shares of Abbott Laboratories (NYSE ABT) opened at $55.01 on Wednesday. Abbott Laboratories has a twelve month low of $37.38 and a twelve month high of $56.69. The company has a market capitalization of $96,255.23, a P/E ratio of 22.95, a P/E/G ratio of 2.07 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.59 earnings per share. analysts expect that Abbott Laboratories will post 2.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a $0.265 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is 83.47%.
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.
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