Abbott Laboratories (ABT) Shares Sold by Sterling Capital Management LLC
Sterling Capital Management LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,110,816 shares of the healthcare product maker’s stock after selling 46,494 shares during the period. Abbott Laboratories makes up approximately 1.1% of Sterling Capital Management LLC’s holdings, making the stock its 13th biggest position. Sterling Capital Management LLC’s holdings in Abbott Laboratories were worth $120,464,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fieldpoint Private Securities LLC lifted its stake in Abbott Laboratories by 4.0% during the 4th quarter. Fieldpoint Private Securities LLC now owns 26,365 shares of the healthcare product maker’s stock valued at $1,505,000 after acquiring an additional 1,021 shares during the period. BB&T Investment Services Inc. increased its position in shares of Abbott Laboratories by 18.6% during the 4th quarter. BB&T Investment Services Inc. now owns 68,623 shares of the healthcare product maker’s stock valued at $3,937,000 after purchasing an additional 10,785 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $30,735,000. Fort Point Capital Partners LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $258,000. Finally, Gotham Asset Management LLC increased its position in shares of Abbott Laboratories by 4,703.6% during the 4th quarter. Gotham Asset Management LLC now owns 857,483 shares of the healthcare product maker’s stock valued at $48,937,000 after purchasing an additional 839,632 shares during the last quarter. Institutional investors and hedge funds own 72.34% of the company’s stock.
In other Abbott Laboratories news, EVP Stephen R. Fussell sold 13,313 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total value of $836,588.92. Following the completion of the transaction, the executive vice president now directly owns 152,343 shares in the company, valued at approximately $9,573,234.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Roger Bird sold 8,262 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $62.75, for a total value of $518,440.50. Following the completion of the transaction, the insider now owns 58,574 shares of the company’s stock, valued at $3,675,518.50. The disclosure for this sale can be found here. Insiders sold a total of 124,261 shares of company stock valued at $7,559,987 over the last three months. 0.74% of the stock is currently owned by insiders.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. analysts forecast that Abbott Laboratories will post 2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is 44.80%.
ABT has been the subject of several research reports. Barclays reaffirmed a “buy” rating and set a $66.00 price target on shares of Abbott Laboratories in a research report on Monday, January 8th. BTIG Research lowered shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Leerink Swann reaffirmed a “market perform” rating and set a $68.00 price target (up previously from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target for the company in a research report on Tuesday, January 2nd. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $65.47.
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About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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