Capital Planning Advisors LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,880 shares of the healthcare product maker’s stock after acquiring an additional 1,843 shares during the period. Abbott Laboratories makes up approximately 1.4% of Capital Planning Advisors LLC’s holdings, making the stock its 16th biggest holding. Capital Planning Advisors LLC’s holdings in Abbott Laboratories were worth $3,622,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Gratus Capital LLC raised its position in shares of Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after acquiring an additional 1,869 shares during the period. Vantage Investment Advisors LLC raised its position in shares of Abbott Laboratories by 103.4% in the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after acquiring an additional 36,683 shares during the period. RKL Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $227,000. Zurich Insurance Group Ltd FI raised its position in shares of Abbott Laboratories by 2.5% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock valued at $11,708,000 after acquiring an additional 5,790 shares during the period. Finally, Amalgamated Bank raised its holdings in Abbott Laboratories by 57.6% during the 2nd quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock worth $9,295,000 after buying an additional 69,871 shares during the period. Institutional investors and hedge funds own 71.19% of the company’s stock.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the transaction, the insider now directly owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The sale was disclosed in a document filed 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 that occurred on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the transaction, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $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 valued at $27,533,150 over the last ninety days. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. equities research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 92.56%.
Several brokerages have commented on ABT. Barclays restated a “buy” rating and set a $66.00 target price on shares of Abbott Laboratories in a report on Monday, January 8th. Royal Bank of Canada restated a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 2nd. Evercore ISI began coverage on shares of Abbott Laboratories in a report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 target price on the stock. Finally, Morgan Stanley upgraded shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price on the stock in a report on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $60.24.
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Abbott Laboratories 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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