Community Bank & Trust Waco Texas reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,296 shares of the healthcare product maker’s stock after selling 701 shares during the period. Community Bank & Trust Waco Texas’ holdings in Abbott Laboratories were worth $1,568,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after buying an additional 3,344,508 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Abbott Laboratories by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 19,694,052 shares of the healthcare product maker’s stock valued at $756,449,000 after buying an additional 2,025,512 shares during the last quarter. Norges Bank acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $598,897,000. Boston Partners increased its stake in shares of Abbott Laboratories by 5,663.7% in the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after buying an additional 8,069,557 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Abbott Laboratories by 13.5% in the first quarter. UBS Asset Management Americas Inc. now owns 7,406,236 shares of the healthcare product maker’s stock valued at $328,911,000 after buying an additional 881,235 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.
Shares of Abbott Laboratories (NYSE ABT) traded down 0.23% during trading on Wednesday, hitting $48.77. The stock had a trading volume of 4,102,919 shares. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $51.13. The firm has a 50-day moving average of $49.10 and a 200 day moving average of $45.36. The company has a market capitalization of $84.63 billion, a P/E ratio of 68.31 and a beta of 1.07.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.265 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.17%. Abbott Laboratories’s dividend payout ratio is presently 149.30%.
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Several analysts recently commented on ABT shares. Cowen and Company reaffirmed a “buy” rating and set a $48.00 price objective on shares of Abbott Laboratories in a research note on Thursday, April 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, April 18th. Jefferies Group LLC dropped their price objective on Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, April 18th. UBS AG reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, April 18th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $42.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 19th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $51.93.
In related news, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the sale, the insider now owns 221,488 shares in the company, valued at approximately $10,188,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the sale, the insider now owns 28,806 shares in the company, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. Insiders sold a total of 218,702 shares of company stock worth $10,149,733 in the last 90 days. 0.76% of the stock is currently owned by company insiders.
Abbott Laboratories Company Profile
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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