King Luther Capital Management Corp Has $90.64 Million Holdings in Abbott Laboratories (ABT)
King Luther Capital Management Corp trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,864,643 shares of the healthcare product maker’s stock after selling 38,113 shares during the period. King Luther Capital Management Corp owned about 0.11% of Abbott Laboratories worth $90,640,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Heritage Trust Co grew its holdings in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares during the period. Winfield Associates Inc. grew its holdings in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares during the period. Thompson Davis & CO. Inc. grew its holdings in Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares during the last quarter. JFS Wealth Advisors LLC grew its holdings in Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares during the last quarter. Finally, Motco grew its holdings in Abbott Laboratories by 213.7% during the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock valued at $140,000 after buying an additional 1,962 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on ABT. Cowen reiterated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a report on Thursday, August 17th. BMO Capital Markets restated a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Barclays raised their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 28th. Citigroup assumed coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price objective on the stock. Finally, ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $56.81.
In other news, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the sale, the insider now directly owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the completion of the transaction, the insider now owns 25,618 shares of the company’s stock, valued at $1,437,682.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,127 shares of company stock worth $16,958,579. Corporate insiders own 0.76% of the company’s stock.
Abbott Laboratories (ABT) opened at $54.66 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. Abbott Laboratories has a 52-week low of $37.42 and a 52-week high of $56.69. The company has a market capitalization of $95,367.53, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same period last year, the company posted $0.59 earnings per share. The firm’s revenue was up 28.8% compared to the same quarter last year. equities research analysts anticipate that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s payout ratio is 83.47%.
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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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