APG Asset Management N.V. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 51.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,023,943 shares of the healthcare product maker’s stock after selling 1,069,900 shares during the period. APG Asset Management N.V. owned 0.06% of Abbott Laboratories worth $54,638,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Heritage Trust Co grew its stake in shares of Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of Abbott Laboratories in the third quarter worth about $106,000. Winfield Associates Inc. grew its stake in shares of Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after purchasing an additional 89 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after purchasing an additional 370 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,094 shares during the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.
Abbott Laboratories (NYSE ABT) traded down $0.11 during trading hours on Friday, reaching $58.84. 6,321,142 shares of the company’s stock were exchanged, compared to its average volume of 6,520,000. Abbott Laboratories has a fifty-two week low of $39.25 and a fifty-two week high of $59.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The company has a market cap of $102,420.00, a P/E ratio of 48.63, a PEG ratio of 1.88 and a beta of 1.55.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 annualized dividend and a yield of 1.90%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is currently 87.60%.
Several analysts recently issued reports on the company. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research note on Tuesday. Barclays reaffirmed a “buy” rating and set a $66.00 price objective on shares of Abbott Laboratories in a research report on Monday. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. 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 objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $60.24.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total value of $5,430,054.63. Following the sale, the executive vice president now owns 142,082 shares in the company, valued at approximately $7,986,429.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the sale, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders sold a total of 501,172 shares of company stock valued at $27,533,150 in the last ninety days. 0.76% of the stock is currently owned by 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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