Excalibur Management Corp lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,165 shares of the healthcare product maker’s stock after selling 250 shares during the period. Abbott Laboratories accounts for 1.6% of Excalibur Management Corp’s holdings, making the stock its 18th biggest holding. Excalibur Management Corp’s holdings in Abbott Laboratories were worth $1,780,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter worth $1,239,454,000. FMR LLC raised its stake in Abbott Laboratories by 118.2% during the fourth quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock worth $1,718,726,000 after buying an additional 12,871,418 shares during the last quarter. Ronna Sue Cohen raised its stake in Abbott Laboratories by 7,636.6% during the first quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock worth $6,249,000 after buying an additional 6,168,186 shares during the last quarter. Geode Capital Management LLC raised its stake in Abbott Laboratories by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock worth $1,598,270,000 after buying an additional 1,778,840 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in Abbott Laboratories by 11,001.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,787,006 shares of the healthcare product maker’s stock worth $129,254,000 after buying an additional 1,770,909 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.
ABT traded up $0.95 during midday trading on Tuesday, hitting $84.11. The company had a trading volume of 1,811,193 shares, compared to its average volume of 5,037,156. Abbott Laboratories has a 52 week low of $63.07 and a 52 week high of $88.76. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The stock has a market cap of $148.39 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. The stock’s 50 day simple moving average is $85.51.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
A number of brokerages recently weighed in on ABT. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Wells Fargo & Co lifted their target price on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Bank of America reissued a “buy” rating and set a $81.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 13th. Finally, BMO Capital Markets lifted their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $85.82.
In other news, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $82.00, for a total transaction of $596,058.00. Following the completion of the sale, the executive vice president now directly owns 99,479 shares of the company’s stock, valued at $8,157,278. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the sale, the director now directly owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 818,331 shares of company stock valued at $65,369,215. Insiders own 0.70% of the company’s stock.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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