Nisa Investment Advisors LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 677,357 shares of the healthcare product maker’s stock after selling 13,463 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Abbott Laboratories were worth $38,656,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV acquired a new stake in Abbott Laboratories in the 4th quarter valued at $102,000. Heritage Trust Co grew its stake in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after acquiring an additional 200 shares during the period. Tributary Capital Management LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at $106,000. Thompson Davis & CO. Inc. grew its stake in Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after acquiring an additional 370 shares during the period. Finally, Motco grew its stake in Abbott Laboratories by 213.7% in the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock valued at $140,000 after acquiring an additional 1,962 shares during the period. 71.22% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Daniel Gesua Sive Salvadori sold 71,157 shares of Abbott Laboratories stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total transaction of $3,913,635.00. Following the transaction, the insider now owns 144,955 shares in the company, valued at approximately $7,972,525. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Blaser sold 27,733 shares of Abbott Laboratories stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total value of $1,726,656.58. Following the transaction, the insider now owns 156,587 shares in the company, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 445,615 shares of company stock worth $24,666,341. Insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 42.3% compared to the same quarter last year. research analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is currently 430.79%.
A number of equities research analysts recently issued reports on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, October 16th. Jefferies Group reissued a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 19th. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Cowen set a $68.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $65.47.
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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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