Abbott Laboratories (ABT) is Family Capital Trust Co’s 8th Largest Position
Family Capital Trust Co cut its stake in Abbott Laboratories (NYSE:ABT) by 1.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 99,331 shares of the healthcare product maker’s stock after selling 1,210 shares during the quarter. Abbott Laboratories comprises approximately 2.7% of Family Capital Trust Co’s portfolio, making the stock its 8th biggest holding. Family Capital Trust Co’s holdings in Abbott Laboratories were worth $5,668,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV purchased a new position in Abbott Laboratories in the 4th quarter valued at about $102,000. Heritage Trust Co lifted 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 buying an additional 200 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at about $106,000. Thompson Davis & CO. Inc. lifted 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 buying an additional 370 shares in the last quarter. Finally, Motco lifted 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 buying an additional 1,962 shares in the last quarter. 70.61% of the stock is currently owned by hedge funds and other institutional investors.
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 sale, the insider now owns 10,256 shares in the company, valued at approximately $572,900.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the sale, the executive vice president now owns 152,343 shares of the company’s stock, valued at approximately $9,573,234.12. The disclosure for this sale can be found here. Insiders have sold a total of 374,458 shares of company stock valued at $20,752,706 in the last 90 days. Insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The business’s revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. equities research analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current year.
The company 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. The ex-dividend date is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is currently 430.79%.
ABT has been the topic of a number of research reports. Jefferies Group reaffirmed 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 raised 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 raised 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. Cowen set a $68.00 price objective on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average 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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