Busey Trust CO Sells 603 Shares of Abbott Laboratories (ABT)
Busey Trust CO cut its position in Abbott Laboratories (NYSE:ABT) by 2.4% during the first quarter, Holdings Channel reports. The fund owned 24,841 shares of the healthcare product maker’s stock after selling 603 shares during the period. Busey Trust CO’s holdings in Abbott Laboratories were worth $1,103,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of ABT. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter worth about $4,680,000. Cypress Capital Management LLC WY boosted its position in shares of Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after buying an additional 696 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of Abbott Laboratories during the first quarter worth about $112,000. First Command Financial Services Inc. boosted its position in shares of Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock worth $124,000 after buying an additional 257 shares during the last quarter. Finally, Advantage Investment Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth about $120,000. 71.08% of the stock is owned by institutional investors and hedge funds.
Shares of Abbott Laboratories (NYSE ABT) opened at 50.83 on Wednesday. The company’s 50-day moving average price is $48.44 and its 200-day moving average price is $44.89. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13. The firm has a market capitalization of $88.20 billion, a PE ratio of 71.19 and a beta of 1.07.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 15.53%. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The company’s revenue was up 24.5% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.09%. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
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A number of brokerages have recently issued reports on ABT. UBS AG reissued a “neutral” rating and issued a $41.00 target price on shares of Abbott Laboratories in a report on Tuesday, April 18th. BMO Capital Markets reissued a “hold” rating and issued a $48.00 target price on shares of Abbott Laboratories in a report on Tuesday, July 11th. Stifel Nicolaus reissued a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Barclays PLC reissued an “overweight” rating and issued a $57.00 target price (up from $52.00) on shares of Abbott Laboratories in a report on Saturday. Finally, Guggenheim began coverage on Abbott Laboratories in a report on Thursday, June 29th. They issued a “buy” rating and a $58.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $52.13.
In other news, insider Roger Bird sold 5,600 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $43.82, for a total transaction of $245,392.00. Following the completion of the transaction, the insider now directly owns 51,313 shares in the company, valued at $2,248,535.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the transaction, the insider now owns 221,488 shares of the company’s stock, valued at $10,188,448. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,702 shares of company stock valued at $9,313,171. Company insiders own 0.76% of the company’s stock.
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.
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