Abbott Laboratories (ABT) Shares Bought by Oakworth Capital Inc.
Oakworth Capital Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 25.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,070 shares of the healthcare product maker’s stock after buying an additional 3,923 shares during the period. Oakworth Capital Inc.’s holdings in Abbott Laboratories were worth $971,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Gratus Capital LLC increased its position in Abbott Laboratories by 0.9% during the second 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. Vantage Investment Advisors LLC increased its position in Abbott Laboratories by 103.4% during the second quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after buying an additional 36,683 shares during the period. RKL Wealth Management LLC acquired a new position in Abbott Laboratories during the third quarter worth approximately $227,000. Zurich Insurance Group Ltd FI increased its position in Abbott Laboratories by 2.5% during the second quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock worth $11,708,000 after buying an additional 5,790 shares during the period. Finally, Amalgamated Bank increased its position in Abbott Laboratories by 57.6% during the second quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock worth $9,295,000 after buying an additional 69,871 shares during the period. 71.19% of the stock is currently owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE ABT) opened at $59.07 on Friday. Abbott Laboratories has a 12 month low of $39.25 and a 12 month high of $59.60. The firm has a market capitalization of $102,678.05, a P/E ratio of 46.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. equities research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.28 dividend. The ex-dividend date is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s payout ratio is 88.19%.
In related news, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the sale, the insider now directly owns 25,618 shares in the company, valued at $1,437,682.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the sale, the chairman now owns 3,677,913 shares in the company, valued at $200,115,246.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 501,172 shares of company stock worth $27,533,150. Company insiders own 0.76% of the company’s stock.
Several research firms have commented on ABT. Barclays lifted their price target on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a research report on Monday, October 2nd. Stifel Nicolaus lifted their price target on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Evercore ISI began coverage on Abbott Laboratories in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $60.24.
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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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