Abbott Laboratories (ABT) Shares Sold by Acropolis Investment Management LLC
Acropolis Investment Management LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 33.5% during the fourth quarter, Holdings Channel reports. The fund owned 3,679 shares of the healthcare product maker’s stock after selling 1,856 shares during the period. Acropolis Investment Management LLC’s holdings in Abbott Laboratories were worth $210,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Heritage Trust Co boosted its position 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 buying an additional 200 shares during the last quarter. Tributary Capital Management LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at $106,000. Thompson Davis & CO. Inc. boosted its position 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 buying an additional 370 shares during the last quarter. Motco boosted its position 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 buying an additional 1,962 shares during the last quarter. Finally, Burt Wealth Advisors boosted its position in Abbott Laboratories by 14.4% in the 2nd quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock valued at $154,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 71.22% of the company’s stock.
A number of research analysts have recently weighed in on the company. Guggenheim reissued a “buy” rating and issued a $72.00 price target on shares of Abbott Laboratories in a research note on Thursday, January 25th. BMO Capital Markets increased their price target on Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Bank of America increased their price target on Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price target on Abbott Laboratories from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus increased their price target on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $65.47.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The firm’s revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is presently 560.00%.
In related news, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction 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 sale, the chairman now directly owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders have sold a total of 445,615 shares of company stock worth $24,666,341 in the last ninety days. 0.76% of the stock is currently owned by company insiders.
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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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