McQueen Ball & Associates Inc. Boosts Stake in Abbott Laboratories (ABT)
McQueen Ball & Associates Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,791 shares of the healthcare product maker’s stock after buying an additional 1,311 shares during the quarter. Abbott Laboratories comprises 1.6% of McQueen Ball & Associates Inc.’s holdings, making the stock its 15th biggest position. McQueen Ball & Associates Inc.’s holdings in Abbott Laboratories were worth $2,550,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Villere ST Denis J & Co. LLC lifted its holdings in shares of Abbott Laboratories by 2.3% during 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 buying an additional 5,950 shares in the last quarter. Private Bank & Trust Co. increased its position in shares of 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 period. Gratus Capital LLC increased its position in shares of 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 period. Comerica Securities Inc. bought a new position in shares of Abbott Laboratories in the first quarter worth $2,833,000. Finally, AQR Capital Management LLC increased 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 worth $28,173,000 after purchasing an additional 460,477 shares during the period. 71.32% of the stock is owned by institutional investors.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the transaction, the executive vice president now owns 142,082 shares in the company, valued at $7,986,429.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 616,332 shares of company stock worth $33,579,226. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at $55.50 on Friday. Abbott Laboratories has a 12-month low of $37.90 and a 12-month high of $56.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The stock has a market capitalization of $96,603.35, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.08 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. equities research analysts forecast that Abbott Laboratories will post 2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.02%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is currently 83.47%.
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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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