Abbott Laboratories (ABT) Shares Sold by NEXT Financial Group Inc

NEXT Financial Group Inc cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 32.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,123 shares of the healthcare product maker’s stock after selling 5,905 shares during the quarter. NEXT Financial Group Inc’s holdings in Abbott Laboratories were worth $663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. America First Investment Advisors LLC lifted its stake in Abbott Laboratories by 2.6% during the 2nd quarter. America First Investment Advisors LLC now owns 251,330 shares of the healthcare product maker’s stock worth $12,217,000 after acquiring an additional 6,458 shares in the last quarter. Country Club Trust Company n.a. lifted its stake in Abbott Laboratories by 0.5% during the 2nd quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock worth $356,000 after acquiring an additional 38 shares in the last quarter. City Holding Co. lifted its stake in Abbott Laboratories by 1.4% during the 2nd quarter. City Holding Co. now owns 51,683 shares of the healthcare product maker’s stock worth $2,512,000 after acquiring an additional 726 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in Abbott Laboratories by 8.9% during the 2nd quarter. Koshinski Asset Management Inc. now owns 8,124 shares of the healthcare product maker’s stock worth $395,000 after acquiring an additional 667 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC lifted its stake in Abbott Laboratories by 0.4% during the 2nd quarter. Dynamic Advisors Solutions LLC now owns 25,664 shares of the healthcare product maker’s stock worth $1,248,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 71.19% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) opened at $58.99 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The stock has a market capitalization of $101,720.72, a PE ratio of 46.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. Abbott Laboratories has a 12-month low of $39.25 and a 12-month high of $59.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. equities research analysts expect that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.28 dividend. The ex-dividend date is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is currently 88.19%.

In other news, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was 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 directly owns 142,082 shares in the company, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock worth $27,533,150 in the last three months. Corporate insiders own 0.76% of the company’s stock.

Several research firms recently issued reports on ABT. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Friday, September 22nd. Barclays increased their target price on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 28th. Jefferies Group reissued a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 19th. JPMorgan Chase & Co. began coverage on Abbott Laboratories in a research note on Friday, October 6th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price on the stock in a research note on Tuesday, January 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $60.24.

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About Abbott Laboratories

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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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