Timber Hill LLC Reduces Position in Abbott Laboratories (ABT)
Timber Hill LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 50.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,941 shares of the healthcare product maker’s stock after selling 11,182 shares during the period. Timber Hill LLC’s holdings in Abbott Laboratories were worth $584,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in ABT. Gratus Capital LLC grew its holdings in Abbott Laboratories by 0.9% during the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after acquiring an additional 1,869 shares in the last quarter. Vantage Investment Advisors LLC grew its holdings in Abbott Laboratories by 103.4% during the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after acquiring an additional 36,683 shares in the last quarter. Zurich Insurance Group Ltd FI grew its holdings in Abbott Laboratories by 2.5% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock worth $11,708,000 after acquiring an additional 5,790 shares in the last quarter. Amalgamated Bank grew its holdings in Abbott Laboratories by 57.6% during the 2nd quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock worth $9,295,000 after acquiring an additional 69,871 shares in the last quarter. Finally, Sather Financial Group Inc acquired a new position in Abbott Laboratories during the 2nd quarter worth approximately $292,000. Hedge funds and other institutional investors own 71.19% of the company’s stock.
In other news, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 501,172 shares of company stock valued at $27,533,150. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE ABT) opened at $58.84 on Monday. Abbott Laboratories has a twelve month low of $39.25 and a twelve month high of $59.60. 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 cap of $102,416.96, a price-to-earnings ratio of 46.33, a PEG ratio of 1.87 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. sell-side analysts expect that Abbott Laboratories will post 2.5 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.28 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio is presently 88.19%.
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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