Abbott Laboratories (ABT) Stake Reduced by Glenview State Bank Trust DEPT.
Glenview State Bank Trust DEPT. cut its stake in Abbott Laboratories (NYSE:ABT) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,360 shares of the healthcare product maker’s stock after selling 34 shares during the period. Abbott Laboratories accounts for approximately 1.6% of Glenview State Bank Trust DEPT.’s holdings, making the stock its 26th largest position. Glenview State Bank Trust DEPT.’s holdings in Abbott Laboratories were worth $2,848,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Jarislowsky Fraser Ltd increased its stake in shares of Abbott Laboratories by 780.3% in the second quarter. Jarislowsky Fraser Ltd now owns 18,800,322 shares of the healthcare product maker’s stock valued at $1,060,533,000 after buying an additional 16,664,605 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Abbott Laboratories by 16.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 36,209,595 shares of the healthcare product maker’s stock valued at $1,423,400,000 after buying an additional 5,115,232 shares in the last quarter. Flossbach Von Storch AG increased its stake in shares of Abbott Laboratories by 51.5% in the second quarter. Flossbach Von Storch AG now owns 14,514,773 shares of the healthcare product maker’s stock valued at $570,576,000 after buying an additional 4,936,655 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Abbott Laboratories during the second quarter valued at $162,264,000. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Abbott Laboratories by 34,061.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,998,999 shares of the healthcare product maker’s stock valued at $117,890,000 after buying an additional 2,990,220 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE:ABT) traded down 1.07% during trading on Monday, reaching $38.74. The company’s stock had a trading volume of 5,727,767 shares. The company has a 50 day moving average price of $39.99 and a 200-day moving average price of $41.00. The company has a market capitalization of $57.04 billion, a PE ratio of 42.29 and a beta of 0.94. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.22.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Abbott Laboratories had a return on equity of 15.46% and a net margin of 6.61%. The company earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post $2.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.66%. Abbott Laboratories’s payout ratio is 114.29%.
A number of equities research analysts recently commented on the company. BTIG Research reaffirmed a “buy” rating and set a $45.00 target price on shares of Abbott Laboratories in a report on Wednesday, August 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 target price on shares of Abbott Laboratories in a report on Monday, September 19th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Tuesday, August 9th. Bank of America Corp. reaffirmed a “buy” rating and set a $50.00 target price on shares of Abbott Laboratories in a report on Friday, August 12th. Finally, TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $47.02.
In other Abbott Laboratories news, Chairman Miles D. White purchased 121,456 shares of Abbott Laboratories stock in a transaction dated Thursday, November 10th. The stock was acquired at an average cost of $40.45 per share, with a total value of $4,912,895.20. Following the acquisition, the chairman now directly owns 2,802,558 shares of the company’s stock, valued at $113,363,471.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the firm’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 value of $33,993.65. Following the completion of the sale, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
About Abbott Laboratories
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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