Coastline Trust Co Grows Holdings in Abbott Laboratories (ABT)
Coastline Trust Co boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 21.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,437 shares of the healthcare product maker’s stock after buying an additional 4,750 shares during the period. Coastline Trust Co’s holdings in Abbott Laboratories were worth $1,509,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Abbott Laboratories in the 4th quarter worth $102,000. Heritage Trust Co grew its stake in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares in the last quarter. Tributary Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth $106,000. Thompson Davis & CO. Inc. grew its stake in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares in the last quarter. Finally, Motco grew its stake in shares of Abbott Laboratories by 213.7% in the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 1,962 shares in the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.
Abbott Laboratories (NYSE ABT) opened at $58.28 on Thursday. The firm has a market cap of $101,440.00, a PE ratio of 291.40, a P/E/G ratio of 1.72 and a beta of 1.55. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 annualized dividend and a yield of 1.92%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is presently 560.00%.
ABT has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Cowen set a $68.00 target price on shares of Abbott Laboratories and gave the stock a “buy” rating in a research note on Thursday, October 19th. ValuEngine upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Finally, Evercore ISI initiated coverage on shares of Abbott Laboratories in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price for the company. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus target price of $65.47.
In other Abbott Laboratories news, Chairman Miles D. White sold 276,886 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the transaction, the chairman now owns 3,677,913 shares in the company, valued at $200,115,246.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the transaction, the insider now owns 156,587 shares of the company’s stock, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,458 shares of company stock valued at $20,752,706. 0.76% of the stock is owned by company insiders.
Abbott Laboratories Company 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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