Chevy Chase Trust Holdings Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,630,037 shares of the healthcare product maker’s stock after selling 4,058 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Abbott Laboratories were worth $93,020,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Gratus Capital LLC lifted its stake in shares of Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after purchasing an additional 1,869 shares during the period. Moody Lynn & Lieberson LLC lifted its stake in shares of Abbott Laboratories by 17.1% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock valued at $17,420,000 after purchasing an additional 47,610 shares during the period. Vantage Investment Advisors LLC lifted its stake in shares of Abbott Laboratories by 103.4% in the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after purchasing an additional 36,683 shares during the period. Brightworth acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $841,000. Finally, RKL Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $227,000. 70.01% of the stock is currently owned by institutional investors.
In other news, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the completion of the transaction, the insider now directly owns 156,587 shares in the company, valued at approximately $9,749,106.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephen R. Fussell sold 13,313 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the transaction, the executive vice president now owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 350,592 shares of company stock valued at $19,426,949. Corporate insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last released its 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 firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company’s revenue was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. equities analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.86%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 107.69%.
A number of research firms recently commented on ABT. Argus upped their price objective on shares of Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup upped their price objective on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Barclays upped their price objective on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Guggenheim restated a “buy” rating and issued a $72.00 price objective on shares of Abbott Laboratories in a research report on Thursday, January 25th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a research report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $65.47.
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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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