Trading Report: Today: Sabal Trust CO Takes Position in Abbott Laboratories (ABT)

Today: Sabal Trust CO Takes Position in Abbott Laboratories (ABT)

Sabal Trust CO bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, Holdings Channel reports. The firm bought 9,122 shares of the healthcare product maker’s stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Nordea Investment Management AB raised its position in shares of 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 in the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of 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 in the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Abbott Laboratories during the second quarter worth $11,444,000. National Pension Service raised its position in shares of 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 in the last quarter. Finally, MAI Capital Management raised its position in shares of 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 in the last quarter. 73.03% of the stock is currently owned by institutional investors and hedge funds.

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 stock has a market cap of $59.96 billion, a P/E ratio of 26.92 and a beta of 0.87. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.38. The company’s 50-day moving average price is $41.96 and its 200 day moving average price is $41.39.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. On average, equities research analysts predict that Abbott Laboratories will post $2.20 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.55%. Abbott Laboratories’s dividend payout ratio is 68.87%.

Several analysts have weighed in on the company. Barclays PLC reissued a “buy” rating and issued a $48.00 target price on shares of Abbott Laboratories in a report on Saturday, June 18th. Argus reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a report on Thursday, July 28th. BTIG Research reissued a “buy” rating and issued a $45.00 target price on shares of Abbott Laboratories in a report on Wednesday, August 10th. Edward Jones raised Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Abbott Laboratories in a report on Tuesday, August 9th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus price target of $47.02.

In other Abbott Laboratories news, Chairman Miles D. White purchased 242,547 shares of the stock in a transaction dated Monday, July 25th. The shares were acquired at an average price of $43.18 per share, for a total transaction of $10,473,179.46. Following the completion of the acquisition, the chairman now owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen R. Fussell sold 41,500 shares of Abbott Laboratories stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $45.00, for a total value of $1,867,500.00. Following the transaction, the insider now owns 196,467 shares in the company, valued at approximately $8,841,015. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

About Abbott Laboratories

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.

Related posts

Leave a Comment