Manchester Capital Management LLC Has $376,000 Holdings in Abbott Laboratories (ABT)
Manchester Capital Management LLC continued to hold its position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,733 shares of the healthcare product maker’s stock at the end of the second quarter. Manchester Capital Management LLC’s holdings in Abbott Laboratories were worth $376,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Ffcm LLC increased its position in shares of Abbott Laboratories by 6.4% in the second quarter. Ffcm LLC now owns 69,132 shares of the healthcare product maker’s stock worth $3,361,000 after purchasing an additional 4,148 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Abbott Laboratories by 23.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 426,152 shares of the healthcare product maker’s stock worth $20,715,000 after purchasing an additional 81,145 shares during the period. 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 purchasing an additional 200 shares during the period. Calamos Advisors LLC increased its position in shares of Abbott Laboratories by 1.4% in the second quarter. Calamos Advisors LLC now owns 338,983 shares of the healthcare product maker’s stock worth $16,478,000 after purchasing an additional 4,678 shares during the period. Finally, Tradition Capital Management LLC increased its position in shares of Abbott Laboratories by 2.1% in the second quarter. Tradition Capital Management LLC now owns 105,011 shares of the healthcare product maker’s stock worth $5,105,000 after purchasing an additional 2,147 shares during the period. Hedge funds and other institutional investors own 69.99% of the company’s stock.
In related news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Blaser sold 23,866 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the completion of the sale, the insider now directly owns 146,387 shares in the company, valued at $8,131,797.85. The disclosure for this sale can be found here. Insiders sold 308,939 shares of company stock worth $16,835,789 over the last ninety days. 0.76% of the stock is currently owned by insiders.
ABT has been the topic of a number of recent analyst reports. BidaskClub cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Cowen Inc restated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 17th. Finally, Citigroup Inc. initiated coverage on Abbott Laboratories in a research report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.81.
Shares of Abbott Laboratories (NYSE:ABT) opened at $56.13 on Friday. The firm has a market capitalization of $97,699.93, a PE ratio of 23.29, a P/E/G ratio of 2.10 and a beta of 1.06. 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 12 month low of $37.38 and a 12 month high of $56.69.
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, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. equities analysts predict that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
COPYRIGHT VIOLATION NOTICE: “Manchester Capital Management LLC Has $376,000 Holdings in Abbott Laboratories (ABT)” was originally posted by Watch List News and is the property of of Watch List News. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/manchester-capital-management-llc-has-376000-holdings-in-abbott-laboratories-abt/1727141.html.
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.
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 Analyst Ratings Network's FREE daily email newsletter.