Abbott Laboratories (ABT) Shares Sold by North American Management Corp
North American Management Corp trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 7.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 357,859 shares of the healthcare product maker’s stock after selling 29,855 shares during the quarter. Abbott Laboratories comprises 4.3% of North American Management Corp’s portfolio, making the stock its 3rd biggest holding. North American Management Corp’s holdings in Abbott Laboratories were worth $26,253,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ABT. Morgan Stanley raised its holdings in Abbott Laboratories by 33.1% during the 2nd quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock worth $1,294,103,000 after purchasing an additional 5,274,307 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Abbott Laboratories during the 2nd quarter worth about $275,697,000. American Century Companies Inc. raised its holdings in Abbott Laboratories by 417.9% during the 2nd quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock worth $340,697,000 after purchasing an additional 4,507,553 shares during the last quarter. BlackRock Inc. raised its holdings in Abbott Laboratories by 3.7% during the 2nd quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock worth $7,083,972,000 after purchasing an additional 4,153,157 shares during the last quarter. Finally, Swedbank bought a new stake in Abbott Laboratories during the 2nd quarter worth about $101,535,000. 72.23% of the stock is owned by institutional investors and hedge funds.
Shares of ABT stock opened at $67.59 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16. The stock has a market capitalization of $119.54 billion, a PE ratio of 27.04, a P/E/G ratio of 1.90 and a beta of 1.49. Abbott Laboratories has a one year low of $53.61 and a one year high of $74.15.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.66%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.
Several analysts have weighed in on ABT shares. Cowen boosted their price objective on Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a report on Friday, October 5th. Royal Bank of Canada reissued a “buy” rating and set a $70.00 price objective on shares of Abbott Laboratories in a report on Thursday, July 19th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Thursday, July 19th. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, July 19th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $80.00 price objective on shares of Abbott Laboratories in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $75.22.
In other news, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $73.35, for a total value of $127,042.20. Following the completion of the sale, the senior vice president now directly owns 39,229 shares of the company’s stock, valued at approximately $2,877,447.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew H. Lane sold 9,097 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total value of $610,499.67. Following the completion of the sale, the insider now directly owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,321 shares of company stock valued at $10,492,583. 0.74% of the stock is currently owned by company insiders.
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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