Abbott Laboratories (NYSE:ABT) Stake Reduced by Sheaff Brock Investment Advisors LLC
Sheaff Brock Investment Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT) by 32.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,782 shares of the healthcare product maker’s stock after selling 7,500 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Abbott Laboratories were worth $701,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of ABT. Norges Bank purchased a new position in Abbott Laboratories during the fourth quarter valued at $598,897,000. Westwood Holdings Group Inc. purchased a new position in Abbott Laboratories during the fourth quarter valued at $168,455,000. UBS Asset Management Americas Inc. raised its position in Abbott Laboratories by 57.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 6,525,001 shares of the healthcare product maker’s stock valued at $250,625,000 after buying an additional 2,370,573 shares in the last quarter. Macquarie Group Ltd. raised its position in Abbott Laboratories by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 19,694,052 shares of the healthcare product maker’s stock valued at $756,449,000 after buying an additional 2,025,512 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Abbott Laboratories by 1,134.8% in the first quarter. Canada Pension Plan Investment Board now owns 2,095,044 shares of the healthcare product maker’s stock valued at $93,041,000 after buying an additional 1,925,376 shares in the last quarter. 71.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (ABT) opened at 48.76 on Tuesday. The firm’s 50-day moving average price is $46.26 and its 200 day moving average price is $43.65. The stock has a market capitalization of $84.61 billion, a P/E ratio of 50.74 and a beta of 1.06. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $49.59.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.05. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.16 billion. Abbott Laboratories had a return on equity of 14.91% and a net margin of 6.74%. The firm’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. Analysts predict that Abbott Laboratories will post $2.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.17%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 110.42%.
TRADEMARK VIOLATION NOTICE: This article was first reported by Daily Political and is the property of of Daily Political. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.dailypolitical.com/2017/07/18/abbott-laboratories-nyseabt-stake-reduced-by-sheaff-brock-investment-advisors-llc.html.
Several equities analysts have recently weighed in on ABT shares. Zacks Investment Research lowered Abbott Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, March 28th. Cowen and Company reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a research note on Thursday, April 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, April 18th. Jefferies Group LLC reduced their price objective on Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, April 18th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, April 18th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $51.33.
In related news, insider Jared Watkin sold 552 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the sale, the insider now owns 47,090 shares in the company, valued at approximately $2,258,907.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the sale, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,902 shares of company stock valued at $9,497,761. 0.76% of the stock is currently owned by corporate insiders.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.