Trade Report: The 8,492 Shares of Abbott Laboratories (ABT) are sold by Buckingham Asset Management LLC

The 8,492 Shares of Abbott Laboratories (ABT) are sold by Buckingham Asset Management LLC

Buckingham Asset Management LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 30.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,380 shares of the healthcare product maker’s stock after selling 8,492 shares during the period. Buckingham Asset Management LLC’s holdings in Abbott Laboratories were worth $762,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ABT. Primecap Management Co. CA increased its position in shares of Abbott Laboratories by 1.0% in the first quarter. Primecap Management Co. CA now owns 16,812,839 shares of the healthcare product maker’s stock worth $703,281,000 after buying an additional 169,800 shares during the period. Meeder Asset Management Inc. increased its position in Abbott Laboratories by 1,267.2% in the first quarter. Meeder Asset Management Inc. now owns 29,136 shares of the healthcare product maker’s stock valued at $1,219,000 after buying an additional 27,005 shares during the last quarter. Covington Investment Advisors Inc. increased its position in Abbott Laboratories by 3.5% in the first quarter. Covington Investment Advisors Inc. now owns 40,425 shares of the healthcare product maker’s stock valued at $1,691,000 after buying an additional 1,370 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Abbott Laboratories by 28.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 488,238 shares of the healthcare product maker’s stock valued at $20,423,000 after buying an additional 108,743 shares during the last quarter. Finally, Cypress Capital Management LLC purchased a new position in Abbott Laboratories during the first quarter valued at $5,553,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories (NYSE:ABT) traded down 1.86% on Friday, reaching $39.54. The company’s stock had a trading volume of 12,520,066 shares. The stock has a 50 day moving average price of $41.41 and a 200-day moving average price of $41.25. Abbott Laboratories has a 1-year low of $36.00 and a 1-year high of $46.38. The company has a market capitalization of $58.12 billion, a price-to-earnings ratio of 43.26 and a beta of 0.87.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.45%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the previous year, the business earned $0.54 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post $2.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders 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 yield of 2.63%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 114.29%.

Several equities analysts recently weighed in on the company. Bank of America Corp. reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Monday, September 19th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a research note on Monday, September 19th. Barclays PLC reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, July 12th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, July 5th. Finally, Argus reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a research note on Thursday, July 28th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently 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 business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the sale, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.

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