CAPROCK Group Inc. Sells 338 Shares of Abbott Laboratories (ABT)
CAPROCK Group Inc. reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,442 shares of the healthcare product maker’s stock after selling 338 shares during the period. CAPROCK Group Inc.’s holdings in Abbott Laboratories were worth $1,577,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Waldron LP increased its position in shares of Abbott Laboratories by 41.0% in the 1st quarter. Waldron LP now owns 10,042 shares of the healthcare product maker’s stock valued at $442,000 after purchasing an additional 2,922 shares during the last quarter. Court Place Advisors LLC increased its position in shares of Abbott Laboratories by 6.8% in the 1st quarter. Court Place Advisors LLC now owns 11,661 shares of the healthcare product maker’s stock valued at $518,000 after purchasing an additional 745 shares during the last quarter. Adviser Investments LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $2,491,000. Livingston Group Asset Management CO operating as Southport Capital Management increased its position in shares of Abbott Laboratories by 4.1% in the 1st quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 6,123 shares of the healthcare product maker’s stock valued at $272,000 after purchasing an additional 240 shares during the last quarter. Finally, John G Ullman & Associates Inc. increased its position in shares of Abbott Laboratories by 29.2% in the 1st quarter. John G Ullman & Associates Inc. now owns 257,926 shares of the healthcare product maker’s stock valued at $11,454,000 after purchasing an additional 58,355 shares during the last quarter. 71.50% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the sale, the insider now owns 221,488 shares in the company, valued at $10,963,656. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the sale, the insider now owns 143,154 shares of the company’s stock, valued at approximately $7,157,700. The disclosure for this sale can be found here. In the last 90 days, insiders sold 333,310 shares of company stock valued at $16,857,255. Insiders own 0.76% of the company’s stock.
A number of equities research analysts have commented on the stock. Barclays PLC increased their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of Abbott Laboratories in a research report on Monday, October 2nd. Finally, J P Morgan Chase & Co assumed coverage on shares of Abbott Laboratories in a research report on Friday. They issued a “neutral” rating and a $60.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $54.75.
Abbott Laboratories (ABT) opened at 54.66 on Tuesday. The firm has a market cap of $94.97 billion, a PE ratio of 76.55 and a beta of 1.06. The stock has a 50 day moving average of $51.88 and a 200 day moving average of $47.88. Abbott Laboratories has a one year low of $37.38 and a one year high of $55.11.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.
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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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