Gryphon Financial Partners LLC Raises Holdings in Abbott Laboratories (ABT)
Gryphon Financial Partners LLC raised its position in Abbott Laboratories (NYSE:ABT) by 2.1% in the third quarter, Holdings Channel reports. The institutional investor owned 86,353 shares of the healthcare product maker’s stock after purchasing an additional 1,796 shares during the period. Abbott Laboratories comprises approximately 1.9% of Gryphon Financial Partners LLC’s holdings, making the stock its 13th largest position. Gryphon Financial Partners LLC’s holdings in Abbott Laboratories were worth $6,335,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Morgan Stanley lifted its stake in Abbott Laboratories by 33.1% in the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after buying an additional 5,274,307 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new stake in Abbott Laboratories in the second quarter valued at approximately $275,697,000. American Century Companies Inc. lifted its stake in Abbott Laboratories by 417.9% in the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after buying an additional 4,507,553 shares during the last quarter. BlackRock Inc. lifted its stake in Abbott Laboratories by 3.7% in the second quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock valued at $7,083,972,000 after buying an additional 4,153,157 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Abbott Laboratories by 12.0% in the second quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock valued at $836,067,000 after buying an additional 1,468,430 shares during the last quarter. Institutional investors own 72.35% of the company’s stock.
In related news, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $73.35, for a total transaction of $127,042.20. Following the transaction, the senior vice president now owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $73.39, for a total value of $366,950.00. Following the transaction, the insider now directly owns 93,321 shares in the company, valued at approximately $6,848,828.19. The disclosure for this sale can be found here. In the last three months, insiders sold 203,297 shares of company stock worth $14,018,743. Corporate insiders own 0.74% of the company’s stock.
NYSE:ABT opened at $72.04 on Friday. The company has a market capitalization of $126.53 billion, a PE ratio of 25.64, a P/E/G ratio of 2.14 and a beta of 1.39. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a 12-month low of $54.32 and a 12-month high of $74.15.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Equities analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, October 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s payout ratio is currently 44.80%.
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Abbott Laboratories Profile
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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