Burke & Herbert Bank & Trust Co. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 16,074 shares of the healthcare product maker’s stock after selling 132 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Abbott Laboratories were worth $632,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in Abbott Laboratories by 13.5% in the second quarter. Nordea Investment Management AB now owns 3,529,762 shares of the healthcare product maker’s stock worth $138,755,000 after buying an additional 420,435 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Abbott Laboratories by 412.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 701,259 shares of the healthcare product maker’s stock worth $27,568,000 after buying an additional 564,323 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in Abbott Laboratories during the second quarter worth about $11,444,000. National Pension Service boosted its stake in Abbott Laboratories by 4.2% in the first quarter. National Pension Service now owns 766,747 shares of the healthcare product maker’s stock worth $32,073,000 after buying an additional 30,857 shares during the last quarter. Finally, MAI Capital Management boosted its stake in Abbott Laboratories by 2.5% in the second quarter. MAI Capital Management now owns 328,683 shares of the healthcare product maker’s stock worth $12,921,000 after buying an additional 8,170 shares during the last quarter. Institutional investors own 73.03% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.46% during midday trading on Friday, hitting $40.79. The stock had a trading volume of 8,818,965 shares. The company has a market capitalization of $59.96 billion, a PE ratio of 26.92 and a beta of 0.87. The firm’s 50-day moving average is $41.96 and its 200 day moving average is $41.39. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post $2.20 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.87%.
A number of equities research analysts have issued reports on ABT shares. Bank of America Corp. reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Monday, September 19th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday, September 20th. Jefferies Group cut their price objective on shares of Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, September 13th. TheStreet upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, August 22nd. Finally, Deutsche Bank AG restated a “buy” rating on shares of Abbott Laboratories in a research note on Tuesday, August 9th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $47.02.
In other Abbott Laboratories news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $41.71, for a total value of $33,993.65. Following the transaction, the senior vice president now owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Miles D. White bought 242,547 shares of the business’s stock in a transaction on Monday, July 25th. The stock was bought at an average cost of $43.18 per share, for a total transaction of $10,473,179.46. Following the purchase, the chairman now directly owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.