Abbott Laboratories (ABT) Shares Sold by South Dakota Investment Council
South Dakota Investment Council lessened its holdings in Abbott Laboratories (NYSE:ABT) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 225,709 shares of the healthcare product maker’s stock after selling 16,100 shares during the quarter. South Dakota Investment Council’s holdings in Abbott Laboratories were worth $10,972,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Villere ST Denis J & Co. LLC grew its position in Abbott Laboratories by 2.3% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock valued at $13,037,000 after acquiring an additional 5,950 shares during the last quarter. Private Bank & Trust Co. lifted its holdings in shares of Abbott Laboratories by 12.3% in the 2nd quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after buying an additional 3,330 shares during the period. Gratus Capital LLC lifted its holdings in shares of Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after buying an additional 1,869 shares during the period. Comerica Securities Inc. purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth $2,833,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 264.8% in the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after buying an additional 460,477 shares during the period. 71.10% of the stock is currently owned by institutional investors.
Shares of Abbott Laboratories (NYSE ABT) opened at $55.58 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The firm has a market capitalization of $97,508.47, a price-to-earnings ratio of 23.25, a P/E/G ratio of 2.10 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.69.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 83.47%.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the completion of the sale, the executive vice president now directly owns 142,082 shares in the company, valued at $7,986,429.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at $572,900.16. The disclosure for this sale can be found here. Insiders have sold a total of 308,939 shares of company stock valued at $16,835,789 over the last 90 days. 0.76% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on ABT shares. Jefferies Group reiterated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a report on Thursday, August 3rd. Stifel Nicolaus upped their target price on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a report on Friday, September 1st. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, October 31st. Finally, Cowen reiterated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a report on Thursday, August 17th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $56.81.
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About Abbott Laboratories
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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