Nachman Norwood & Parrott Inc Sells 266 Shares of Abbott Laboratories (NYSE:ABT)
Nachman Norwood & Parrott Inc lowered its holdings in Abbott Laboratories (NYSE:ABT) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,829 shares of the healthcare product maker’s stock after selling 266 shares during the period. Nachman Norwood & Parrott Inc’s holdings in Abbott Laboratories were worth $4,008,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. RPG Investment Advisory LLC boosted its holdings in Abbott Laboratories by 113.4% in the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 203 shares during the period. Crewe Advisors LLC boosted its holdings in Abbott Laboratories by 278.4% in the 3rd quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock valued at $40,000 after purchasing an additional 270 shares during the period. Bay Harbor Wealth Management LLC boosted its holdings in Abbott Laboratories by 159.9% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 275 shares during the period. Islay Capital Management LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at about $46,000. Finally, Arlington Partners LLC boosted its holdings in Abbott Laboratories by 1,187.8% in the 2nd quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock valued at $48,000 after purchasing an additional 487 shares during the period. 73.09% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on ABT shares. Bank of America boosted their price objective on shares of Abbott Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 20th. Goldman Sachs Group set a $94.00 price target on shares of Abbott Laboratories and gave the stock a “sell” rating in a report on Wednesday, September 2nd. Morgan Stanley upped their price target on shares of Abbott Laboratories from $106.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. SVB Leerink upped their price target on shares of Abbott Laboratories from $97.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a report on Thursday, August 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $114.44.
Shares of NYSE ABT opened at $109.67 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $114.19. The firm has a 50 day moving average price of $106.58 and a two-hundred day moving average price of $96.39. The stock has a market cap of $194.17 billion, a P/E ratio of 63.39, a price-to-earnings-growth ratio of 3.06 and a beta of 0.92.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same period in the prior year, the company posted $0.82 EPS. The company’s revenue was down 8.2% on a year-over-year basis. Analysts predict that Abbott Laboratories will post 3.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
Abbott Laboratories Company Profile
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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