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.