Nomura Holdings Inc. Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)
Nomura Holdings Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,551 shares of the healthcare product maker’s stock after selling 2,700 shares during the period. Nomura Holdings Inc.’s holdings in Abbott Laboratories were worth $1,195,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Resources Management Corp CT ADV purchased a new stake in shares of Abbott Laboratories in the third quarter valued at $4,492,000. Beck Bode LLC grew its position in shares of Abbott Laboratories by 1.9% in the third quarter. Beck Bode LLC now owns 75,594 shares of the healthcare product maker’s stock valued at $6,325,000 after purchasing an additional 1,386 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Abbott Laboratories in the third quarter valued at $5,215,000. Metropolitan Life Insurance Co NY grew its position in shares of Abbott Laboratories by 14.8% in the third quarter. Metropolitan Life Insurance Co NY now owns 298,672 shares of the healthcare product maker’s stock valued at $24,990,000 after purchasing an additional 38,446 shares during the period. Finally, Sandler Capital Management grew its position in shares of Abbott Laboratories by 89.0% in the third quarter. Sandler Capital Management now owns 271,130 shares of the healthcare product maker’s stock valued at $22,685,000 after purchasing an additional 127,680 shares during the period. 73.66% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. Raymond James reduced their target price on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a report on Wednesday, August 21st. William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Credit Suisse Group lifted their target price on Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $89.00.
Shares of Abbott Laboratories stock opened at $86.35 on Friday. Abbott Laboratories has a twelve month low of $65.44 and a twelve month high of $88.76. The stock has a market capitalization of $150.16 billion, a P/E ratio of 27.39, a PEG ratio of 2.45 and a beta of 1.12. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average price is $84.12 and its 200 day moving average price is $83.60.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.84. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts predict that Abbott Laboratories will post 3.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s payout ratio is currently 44.44%.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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