Emerald Advisers Inc. PA Cuts Stake in Abbott Laboratories (ABT)

Emerald Advisers Inc. PA cut its position in Abbott Laboratories (NYSE:ABT) by 8.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,539 shares of the healthcare product maker’s stock after selling 1,790 shares during the period. Emerald Advisers Inc. PA’s holdings in Abbott Laboratories were worth $989,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ABT. Buffington Mohr McNeal boosted its stake in shares of Abbott Laboratories by 2.2% in the third quarter. Buffington Mohr McNeal now owns 72,055 shares of the healthcare product maker’s stock worth $3,990,000 after buying an additional 1,525 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Abbott Laboratories by 2.9% in the third quarter. IFP Advisors Inc now owns 78,362 shares of the healthcare product maker’s stock worth $4,181,000 after buying an additional 2,236 shares during the last quarter. Ramsay Stattman Vela & Price Inc. boosted its stake in shares of Abbott Laboratories by 1.2% in the third quarter. Ramsay Stattman Vela & Price Inc. now owns 138,967 shares of the healthcare product maker’s stock worth $7,415,000 after buying an additional 1,652 shares during the last quarter. Brightworth purchased a new stake in shares of Abbott Laboratories in the third quarter worth about $841,000. Finally, Hutner Capital Management Inc. boosted its stake in shares of Abbott Laboratories by 12.3% in the third quarter. Hutner Capital Management Inc. now owns 47,508 shares of the healthcare product maker’s stock worth $2,535,000 after buying an additional 5,210 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.

In other Abbott Laboratories news, Chairman Miles D. White sold 276,886 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the 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 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. Insiders have sold 501,172 shares of company stock valued at $27,533,150 in the last three months. Insiders own 0.76% of the company’s stock.

A number of brokerages have recently commented on ABT. Barclays upped their target price on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 28th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BMO Capital Markets restated a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research note on Monday, October 2nd. Stifel Nicolaus upped their target price on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, Cowen restated a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $57.56.

Abbott Laboratories (NYSE ABT) opened at $57.07 on Monday. The stock has a market capitalization of $99,336.09, a P/E ratio of 44.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 1 year low of $38.25 and a 1 year high of $57.76.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The business’s revenue was up 28.8% compared to the same quarter last year. equities analysts forecast that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders 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 1.96%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is presently 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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