Today, Glenview State Bank Trust DEPT. Reduces stake in Abbott Laboratories (ABT)

Today, Glenview State Bank Trust DEPT. Reduces stake in Abbott Laboratories (ABT)

Glenview State Bank Trust DEPT. lowered its stake in Abbott Laboratories (NYSE:ABT) by 0.1% during the third quarter, Holdings Channel reports. The fund owned 67,360 shares of the healthcare product maker’s stock after selling 34 shares during the period. Abbott Laboratories accounts for 1.6% of Glenview State Bank Trust DEPT.’s holdings, making the stock its 26th largest position. Glenview State Bank Trust DEPT.’s holdings in Abbott Laboratories were worth $2,848,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Cohen Lawrence B increased its stake in shares of Abbott Laboratories by 7.4% in the second quarter. Cohen Lawrence B now owns 98,484 shares of the healthcare product maker’s stock worth $3,871,000 after buying an additional 6,775 shares in the last quarter. Moreno Evelyn V increased its stake in shares of Abbott Laboratories by 0.6% in the second quarter. Moreno Evelyn V now owns 80,280 shares of the healthcare product maker’s stock worth $3,156,000 after buying an additional 500 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Abbott Laboratories by 5.1% in the second quarter. Raymond James Trust N.A. now owns 153,168 shares of the healthcare product maker’s stock worth $6,021,000 after buying an additional 7,364 shares in the last quarter. West Oak Capital LLC increased its stake in shares of Abbott Laboratories by 0.4% in the second quarter. West Oak Capital LLC now owns 38,405 shares of the healthcare product maker’s stock worth $1,510,000 after buying an additional 165 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its stake in shares of Abbott Laboratories by 2.7% in the second quarter. Patten & Patten Inc. TN now owns 17,307 shares of the healthcare product maker’s stock worth $680,000 after buying an additional 457 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Shares of Abbott Laboratories (NYSE:ABT) traded down 1.07% during mid-day trading on Monday, reaching $38.74. The company had a trading volume of 5,727,767 shares. The company’s 50-day moving average price is $39.99 and its 200-day moving average price is $41.00. The company has a market capitalization of $57.04 billion, a PE ratio of 42.29 and a beta of 0.94. Abbott Laboratories has a 52-week low of $36.00 and a 52-week high of $46.22.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.46%. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the business posted $0.54 earnings per share. Abbott Laboratories’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts forecast that Abbott Laboratories will post $2.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 114.29%.

A number of equities research analysts have recently commented on the company. Bank of America Corp. reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Abbott Laboratories in a research report on Friday, August 12th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Tuesday, August 9th. Jefferies Group lifted their target price on Abbott Laboratories from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 4th. BTIG Research reiterated a “buy” rating and issued a $45.00 target price on shares of Abbott Laboratories in a report on Wednesday, August 10th. Finally, TheStreet upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and an average target price of $47.02.

In other Abbott Laboratories news, Director Sally E. Blount acquired 5,100 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was purchased at an average cost of $39.24 per share, for a total transaction of $200,124.00. Following the completion of the acquisition, the director now owns 20,143 shares of the company’s stock, valued at approximately $790,411.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Miles D. White acquired 121,456 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was acquired at an average price of $40.45 per share, with a total value of $4,912,895.20. Following the completion of the acquisition, the chairman now directly owns 2,802,558 shares of the company’s stock, valued at approximately $113,363,471.10. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.

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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