Abbott Laboratories (ABT) Shares Sold by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 6.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 518,803 shares of the healthcare product maker’s stock after selling 34,004 shares during the period. Nisa Investment Advisors LLC’s holdings in Abbott Laboratories were worth $20,394,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parasol Investment Management LLC boosted its position in Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock worth $101,000 after buying an additional 600 shares in the last quarter. CapWealth Advisors LLC boosted its position in Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock worth $127,000 after buying an additional 400 shares in the last quarter. Alpha Windward LLC boosted its position in Abbott Laboratories by 22.7% in the second quarter. Alpha Windward LLC now owns 5,115 shares of the healthcare product maker’s stock worth $201,000 after buying an additional 945 shares in the last quarter. Chilton Capital Management LLC purchased a new position in Abbott Laboratories during the first quarter worth approximately $223,000. Finally, MCF Advisors LLC boosted its position in Abbott Laboratories by 0.3% in the first quarter. MCF Advisors LLC now owns 5,456 shares of the healthcare product maker’s stock worth $228,000 after buying an additional 18 shares in the last quarter. 73.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) traded up 2.05% during midday trading on Friday, hitting $42.29. 7,451,020 shares of the company traded hands. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.38. The stock has a market capitalization of $62.17 billion, a P/E ratio of 27.91 and a beta of 0.82. The company has a 50-day moving average price of $42.58 and a 200-day moving average price of $41.29.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.46%. Abbott Laboratories’s dividend payout ratio is currently 68.87%.
A number of research analysts recently commented on the company. Barclays PLC reissued a “buy” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research note on Saturday, June 18th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, July 5th. Jefferies Group raised their price objective on Abbott Laboratories from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. BTIG Research reaffirmed a “buy” rating and set a $45.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, August 10th. Finally, Argus reaffirmed a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research note on Thursday, July 28th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $47.02.
In other news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the completion of the sale, the senior vice president now owns 59,791 shares in the company, valued at approximately $2,493,882.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Miles D. White acquired 242,547 shares of Abbott Laboratories stock in a transaction dated Monday, July 25th. The shares were bought at an average price of $43.18 per share, with a total value of $10,473,179.46. Following the transaction, the chairman now directly owns 2,010,517 shares in the company, valued at approximately $86,814,124.06. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by corporate insiders.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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