Neville Rodie & Shaw Inc. Has $3.21 Million Position in Abbott Laboratories (ABT)
Neville Rodie & Shaw Inc. reduced its holdings in Abbott Laboratories (NYSE:ABT) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,988 shares of the healthcare product maker’s stock after selling 2,000 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Abbott Laboratories were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Boltwood Capital Management increased its stake in Abbott Laboratories by 4.6% in the second quarter. Boltwood Capital Management now owns 25,831 shares of the healthcare product maker’s stock valued at $1,255,000 after purchasing an additional 1,129 shares during the last quarter. Curbstone Financial Management Corp increased its stake in Abbott Laboratories by 6.1% in the second quarter. Curbstone Financial Management Corp now owns 20,357 shares of the healthcare product maker’s stock valued at $990,000 after purchasing an additional 1,177 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Abbott Laboratories by 1.6% in the second quarter. Xact Kapitalforvaltning AB now owns 267,457 shares of the healthcare product maker’s stock valued at $13,001,000 after purchasing an additional 4,111 shares during the last quarter. Pioneer Trust Bank N A OR increased its stake in Abbott Laboratories by 1.1% in the second quarter. Pioneer Trust Bank N A OR now owns 68,760 shares of the healthcare product maker’s stock valued at $3,343,000 after purchasing an additional 770 shares during the last quarter. Finally, First American Trust FSB increased its stake in Abbott Laboratories by 3.8% in the second quarter. First American Trust FSB now owns 105,345 shares of the healthcare product maker’s stock valued at $5,121,000 after purchasing an additional 3,809 shares during the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.
ABT has been the subject of several analyst reports. Wells Fargo & Company reiterated an “outperform” rating and issued a $54.00 target price (up from $47.50) on shares of Abbott Laboratories in a research note on Friday, June 30th. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Barclays PLC restated an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. BMO Capital Markets restated a “hold” rating and set a $48.00 price target on shares of Abbott Laboratories in a research note on Tuesday, July 11th. Finally, Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $52.50.
Shares of Abbott Laboratories (NYSE ABT) traded up 0.14% during midday trading on Friday, hitting $51.76. The stock had a trading volume of 6,699,659 shares. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $52.60. The firm has a market cap of $89.93 billion, a price-to-earnings ratio of 72.49 and a beta of 1.06. The firm has a 50-day moving average price of $50.01 and a 200-day moving average price of $46.93.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same period last year, the company earned $0.55 earnings per share. The business’s revenue was up 24.5% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 2.05%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 149.30%.
In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the transaction, the insider now directly owns 28,806 shares in the company, valued at $1,416,102.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Hubert L. Allen sold 4,600 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total value of $233,634.00. Following the transaction, the insider now owns 105,479 shares in the company, valued at $5,357,278.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,150 shares of company stock worth $10,811,179. Corporate insiders own 0.76% of the company’s stock.
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About Abbott Laboratories
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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