Security National Bank grew its stake in Abbott Laboratories (NYSE:ABT) by 3.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,525 shares of the healthcare product maker’s stock after buying an additional 200 shares during the quarter. Security National Bank’s holdings in Abbott Laboratories were worth $653,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in ABT. Camden National Bank lifted its position in shares of Abbott Laboratories by 1.5% in the fourth quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock worth $844,000 after buying an additional 114 shares during the last quarter. Hoylecohen LLC lifted its position in shares of Abbott Laboratories by 3.0% in the first quarter. Hoylecohen LLC now owns 60,325 shares of the healthcare product maker’s stock worth $7,229,000 after buying an additional 1,746 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $884,000. Gladstone Institutional Advisory LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $236,000. Finally, Colony Group LLC lifted its position in shares of Abbott Laboratories by 19.1% during the 1st quarter. Colony Group LLC now owns 36,831 shares of the healthcare product maker’s stock worth $4,414,000 after purchasing an additional 5,904 shares during the last quarter. 72.46% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on the company. Raymond James boosted their price objective on Abbott Laboratories from $128.00 to $134.00 and gave the stock an “outperform” rating in a research report on Thursday, October 21st. Redburn Partners assumed coverage on Abbott Laboratories in a research report on Thursday, October 14th. They set a “neutral” rating and a $132.28 price objective for the company. BTIG Research boosted their price objective on Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, August 31st. Cowen reissued a “buy” rating and set a $140.00 price objective on shares of Abbott Laboratories in a research report on Friday, October 8th. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $140.00 price target (up previously from $128.00) on shares of Abbott Laboratories in a report on Thursday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $134.94.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Tuesday, October 19th. The healthcare product maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.46. Abbott Laboratories had a return on equity of 28.39% and a net margin of 17.12%. The company had revenue of $10.93 billion for the quarter, compared to analyst estimates of $9.56 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue was up 23.4% compared to the same quarter last year. On average, sell-side analysts expect that Abbott Laboratories will post 5.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Friday, October 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.44%. Abbott Laboratories’s dividend payout ratio is currently 44.67%.
In related news, SVP Randel William Woodgrift sold 6,350 shares of the stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $129.00, for a total transaction of $819,150.00. Following the sale, the senior vice president now directly owns 50,093 shares in the company, valued at approximately $6,461,997. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew H. Lane sold 135,925 shares of the stock in a transaction on Friday, August 27th. The shares were sold at an average price of $125.47, for a total value of $17,054,509.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,783 shares of company stock worth $23,066,012. Corporate insiders own 1.50% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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