Rockefeller Financial Services Inc. Has $116.63 Million Stake in Abbott Laboratories (ABT)
Rockefeller Financial Services Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,185,675 shares of the healthcare product maker’s stock after selling 393,385 shares during the quarter. Abbott Laboratories accounts for approximately 2.2% of Rockefeller Financial Services Inc.’s holdings, making the stock its 10th largest holding. Rockefeller Financial Services Inc. owned 0.13% of Abbott Laboratories worth $116,627,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of ABT. Capital Research Global Investors raised its stake in Abbott Laboratories by 45.7% during the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after buying an additional 14,918,038 shares during the period. State Street Corp raised its stake in Abbott Laboratories by 18.9% during the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after buying an additional 12,806,535 shares during the period. Janus Henderson Group PLC raised its stake in Abbott Laboratories by 3,373.9% during the 2nd quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock worth $382,779,000 after buying an additional 7,647,798 shares during the period. Vanguard Group Inc. raised its stake in Abbott Laboratories by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after buying an additional 3,241,063 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Abbott Laboratories by 28.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after buying an additional 2,606,404 shares during the period. 71.12% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $58.00 to $65.00 in a research note on Tuesday, December 12th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Tuesday, October 31st. Barclays reissued an “overweight” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Finally, Citigroup reissued a “neutral” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $57.56.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 28.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. sell-side analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.28 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. This represents a $1.12 annualized dividend and a dividend yield of 1.99%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
In other news, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the transaction, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. Insiders sold a total of 616,332 shares of company stock valued at $33,579,226 in the last 90 days. 0.76% of the stock is owned by corporate insiders.
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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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