Abbott Laboratories (ABT) Holdings Trimmed by Family Capital Trust Co
Family Capital Trust Co lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,736 shares of the healthcare product maker’s stock after selling 445 shares during the quarter. Abbott Laboratories comprises 2.5% of Family Capital Trust Co’s portfolio, making the stock its 11th largest holding. Family Capital Trust Co’s holdings in Abbott Laboratories were worth $4,897,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of ABT. Whittier Trust Co. lifted its holdings in shares of Abbott Laboratories by 1.7% in the first quarter. Whittier Trust Co. now owns 401,048 shares of the healthcare product maker’s stock worth $17,807,000 after buying an additional 6,751 shares in the last quarter. Century Capital Management LLC bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $4,332,000. Comerica Securities Inc. bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $2,833,000. Tandem Investment Advisors Inc. boosted its position in shares of Abbott Laboratories by 3.2% in the first quarter. Tandem Investment Advisors Inc. now owns 225,566 shares of the healthcare product maker’s stock valued at $10,017,000 after acquiring an additional 7,009 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Abbott Laboratories by 264.8% in the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after acquiring an additional 460,477 shares during the period. 71.50% of the stock is owned by institutional investors and hedge funds.
In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sharon J. Bracken sold 2,000 shares of the 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 of the company’s stock, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 333,310 shares of company stock worth $16,857,255. Corporate insiders own 0.76% of the company’s stock.
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Shares of Abbott Laboratories (NYSE ABT) traded up 0.28% during mid-day trading on Tuesday, hitting $53.83. 2,583,694 shares of the stock were exchanged. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $54.80. The stock’s 50-day moving average price is $51.11 and its 200-day moving average price is $47.53. The company has a market cap of $93.53 billion, a P/E ratio of 75.39 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.55 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given 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 dividend yield of 1.97%. Abbott Laboratories’s payout ratio is 149.30%.
ABT has been the topic of several recent analyst reports. Citigroup Inc. initiated coverage on shares of Abbott Laboratories in a research note on Thursday, August 17th. They issued a “neutral” rating and a $53.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Friday, September 22nd. Barclays PLC boosted their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Finally, BTIG Research began coverage on shares of Abbott Laboratories in a report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $54.00.
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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