Abbott Laboratories (ABT) Stake Maintained by Marcus Capital LLC
Marcus Capital LLC held its stake in Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,750 shares of the healthcare product maker’s stock at the close of the second quarter. Marcus Capital LLC’s holdings in Abbott Laboratories were worth $377,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in ABT. Villere ST Denis J & Co. LLC lifted its stake in Abbott Laboratories by 2.3% in the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after purchasing an additional 5,950 shares during the last quarter. Private Bank & Trust Co. lifted its stake in Abbott Laboratories by 12.3% in the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after purchasing an additional 3,330 shares during the last quarter. Gratus Capital LLC lifted its stake in Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after purchasing an additional 1,869 shares during the last quarter. Comerica Securities Inc. bought a new stake in Abbott Laboratories in the first quarter worth about $2,833,000. Finally, AQR Capital Management LLC lifted its stake in 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 worth $28,173,000 after purchasing an additional 460,477 shares during the last quarter. 71.10% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on ABT. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Group reaffirmed a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 19th. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Cowen set a $68.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $56.81.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company’s revenue was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. sell-side analysts expect that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s payout ratio is 83.47%.
In related news, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the transaction, the executive vice president now directly owns 142,082 shares in the company, valued at $7,986,429.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,127 shares of company stock worth $16,958,579. 0.76% of the stock is currently owned by corporate insiders.
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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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