Jacobs & Co. CA Sells 1,685 Shares of Abbott Laboratories (ABT)
Jacobs & Co. CA decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,816 shares of the healthcare product maker’s stock after selling 1,685 shares during the period. Jacobs & Co. CA’s holdings in Abbott Laboratories were worth $4,052,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of ABT. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,826,407 shares of the healthcare product maker’s stock valued at $3,845,557,000 after buying an additional 1,535,735 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 during the last quarter. Bank of New York Mellon Corp increased its position in Abbott Laboratories by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 29,256,692 shares of the healthcare product maker’s stock valued at $1,150,083,000 after buying an additional 376,446 shares during the last quarter. BlackRock Fund Advisors increased its position in Abbott Laboratories by 2.4% in the second quarter. BlackRock Fund Advisors now owns 22,778,032 shares of the healthcare product maker’s stock valued at $895,404,000 after buying an additional 538,002 shares during the last quarter. Finally, Jarislowsky Fraser Ltd increased its position in 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 during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.03% during trading on Tuesday, hitting $38.73. The company had a trading volume of 7,240,743 shares. The stock’s 50-day moving average is $39.99 and its 200 day moving average is $41.00. Abbott Laboratories has a 52-week low of $36.00 and a 52-week high of $46.22. The firm has a market capitalization of $57.02 billion, a P/E ratio of 42.28 and a beta of 0.94.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.29 billion. Abbott Laboratories had a return on equity of 15.46% and a net margin of 6.61%. Abbott Laboratories’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities research analysts predict that Abbott Laboratories will post $2.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, October 14th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.69%. The ex-dividend date was Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 114.29%.
COPYRIGHT VIOLATION WARNING: This news story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.thecerbatgem.com/2016/11/29/jacobs-co-ca-sells-1685-shares-of-abbott-laboratories-abt.html.
Several research firms have commented on ABT. BTIG Research restated a “buy” rating and set a $45.00 price objective on shares of Abbott Laboratories in a report on Wednesday, August 10th. Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Abbott Laboratories in a report on Monday, September 19th. Deutsche Bank AG restated 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 research report on Friday, August 12th. Finally, TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $47.02.
In other Abbott Laboratories news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 59,791 shares in the company, valued at $2,493,882.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sally E. Blount acquired 5,100 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was bought at an average price of $39.24 per share, with a total value of $200,124.00. Following the purchase, the director now directly owns 20,143 shares of the company’s stock, valued at $790,411.32. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.