Abbott Laboratories (NYSE:ABT) Stake Reduced by Bartlett & Co. LLC
Bartlett & Co. LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 890,769 shares of the healthcare product maker’s stock after selling 3,639 shares during the period. Abbott Laboratories comprises about 1.9% of Bartlett & Co. LLC’s portfolio, making the stock its 13th largest position. Bartlett & Co. LLC owned 0.05% of Abbott Laboratories worth $43,300,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. IFM Investors Pty Ltd purchased a new stake in Abbott Laboratories during the fourth quarter worth $716,000. Heritage Way Advisors LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth $1,508,000. Wall Street Access Asset Management LLC boosted its stake in Abbott Laboratories by 4.9% in the fourth quarter. Wall Street Access Asset Management LLC now owns 6,400 shares of the healthcare product maker’s stock worth $245,000 after buying an additional 300 shares in the last quarter. Independent Advisor Alliance purchased a new stake in Abbott Laboratories during the fourth quarter worth $396,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Abbott Laboratories during the fourth quarter worth $25,112,000. Institutional investors own 71.08% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at 50.11 on Friday. The company has a 50 day moving average price of $48.78 and a 200 day moving average price of $45.04. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13. The stock has a market capitalization of $86.95 billion, a price-to-earnings ratio of 70.18 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 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $6.63 billion. During the same period in the prior year, the business posted $0.55 earnings per share. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.12%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.
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A number of research firms recently weighed in on ABT. Barclays PLC restated an “overweight” rating and issued a $57.00 price target (up previously from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. Stifel Nicolaus restated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Friday, July 21st. Cowen and Company reiterated an “outperform” rating and set a $55.00 target price (up previously from $48.00) on shares of Abbott Laboratories in a report on Friday, July 14th. BMO Capital Markets reiterated a “hold” rating and set a $48.00 target price on shares of Abbott Laboratories in a report on Tuesday, July 11th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Abbott Laboratories in a report on Monday, July 10th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $52.13.
In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the sale, the insider now directly owns 47,090 shares in the company, valued at $2,258,907.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the sale, the insider now owns 105,479 shares in the company, valued at $5,357,278.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,702 shares of company stock worth $9,301,413. 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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