Crossmark Global Holdings Inc. Acquires New Holdings in Abbott Laboratories (ABT)
Crossmark Global Holdings Inc. acquired a new stake in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 391,366 shares of the healthcare product maker’s stock, valued at approximately $20,883,000. Abbott Laboratories comprises approximately 0.5% of Crossmark Global Holdings Inc.’s investment portfolio, making the stock its 29th largest position.
Several other large investors also recently added to or reduced their stakes in the business. Pitcairn Co. boosted its position in shares of Abbott Laboratories by 7.0% in the first quarter. Pitcairn Co. now owns 17,060 shares of the healthcare product maker’s stock valued at $758,000 after acquiring an additional 1,119 shares during the period. Bienville Capital Management LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $219,000. Ffcm LLC boosted its position in shares of Abbott Laboratories by 7.1% in the first quarter. Ffcm LLC now owns 64,984 shares of the healthcare product maker’s stock valued at $2,886,000 after acquiring an additional 4,294 shares during the period. Norinchukin Bank The boosted its position in shares of Abbott Laboratories by 22.4% in the first quarter. Norinchukin Bank The now owns 200,798 shares of the healthcare product maker’s stock valued at $8,917,000 after acquiring an additional 36,743 shares during the period. Finally, Twin Capital Management Inc. boosted its position in shares of Abbott Laboratories by 22.4% in the first quarter. Twin Capital Management Inc. now owns 67,870 shares of the healthcare product maker’s stock valued at $3,014,000 after acquiring an additional 12,426 shares during the period. Hedge funds and other institutional investors own 71.15% of the company’s stock.
In other news, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, the chairman now owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total value of $1,555,279.48. Following the completion of the transaction, the insider now directly owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,172 shares of company stock valued at $27,533,150. Insiders own 0.76% of the company’s stock.
Abbott Laboratories (ABT) opened at $57.47 on Thursday. 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 capitalization of $100,030.00, a PE ratio of 47.50, a price-to-earnings-growth ratio of 2.06 and a beta of 1.55. Abbott Laboratories has a 52 week low of $38.07 and a 52 week high of $57.60.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 earnings per share. sell-side analysts forecast that Abbott Laboratories will post 2.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. This represents a $1.12 annualized dividend and a yield of 1.95%. Abbott Laboratories’s payout ratio is presently 87.60%.
A number of equities research analysts have recently issued reports on ABT shares. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research report on Friday, September 1st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, September 22nd. Cowen reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. Wells Fargo & Co upped their price objective on shares of Abbott Laboratories from $57.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Finally, Barclays upped their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $57.56.
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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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