Appleton Partners Inc. MA Sells 1,025 Shares of Abbott Laboratories (ABT)
Appleton Partners Inc. MA decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 20,008 shares of the healthcare product maker’s stock after selling 1,025 shares during the period. Appleton Partners Inc. MA’s holdings in Abbott Laboratories were worth $973,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. lifted its holdings in Abbott Laboratories by 1.7% during the 1st quarter. Whittier Trust Co. now owns 401,048 shares of the healthcare product maker’s stock worth $17,807,000 after purchasing an additional 6,751 shares in the last quarter. Century Capital Management LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth about $4,332,000. Comerica Securities Inc. purchased a new stake in Abbott Laboratories during the 1st quarter worth about $2,833,000. Tandem Investment Advisors Inc. lifted its holdings in Abbott Laboratories by 3.2% during the 1st quarter. Tandem Investment Advisors Inc. now owns 225,566 shares of the healthcare product maker’s stock worth $10,017,000 after purchasing an additional 7,009 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its holdings in Abbott Laboratories by 3.1% during the 1st quarter. Miller Howard Investments Inc. NY now owns 1,529,641 shares of the healthcare product maker’s stock worth $67,931,000 after purchasing an additional 46,118 shares in the last quarter. 71.50% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the sale, the insider now directly owns 28,806 shares in the company, valued at $1,416,102.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the sale, the insider now owns 221,488 shares in the company, valued at $10,963,656. The disclosure for this sale can be found here. Insiders sold 218,150 shares of company stock worth $10,811,179 over the last quarter. 0.76% of the stock is owned by company insiders.
A number of brokerages recently issued reports on ABT. Citigroup Inc. began coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Friday, June 16th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday. BTIG Research began coverage on Abbott Laboratories in a report on Wednesday, June 21st. They set a “buy” rating and a $56.00 price objective on the stock. Finally, Cowen and Company reissued a “buy” rating on shares of Abbott Laboratories in a report on Sunday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $52.71.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.17% during trading on Monday, hitting $52.42. The company had a trading volume of 3,548,228 shares. The stock has a market capitalization of $91.08 billion, a P/E ratio of 73.42 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $52.78. The firm’s 50 day moving average is $50.14 and its 200-day moving average is $47.04.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.02%. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
Abbott Laboratories Profile
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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