Aureus Asset Management LLC Has $719,000 Position in Abbott Laboratories (ABT)

Aureus Asset Management LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 18.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,798 shares of the healthcare product maker’s stock after selling 3,300 shares during the period. Aureus Asset Management LLC’s holdings in Abbott Laboratories were worth $719,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ABT. Heritage Trust Co raised its stake in shares of Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares during the last quarter. Winfield Associates Inc. raised its stake in shares of Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,094 shares during the last quarter. Finally, Motco raised its stake in shares of Abbott Laboratories by 213.7% in the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 1,962 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on ABT shares. Cowen reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, September 24th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, September 22nd. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price (up from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 19th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $56.81.

Shares of Abbott Laboratories (NYSE ABT) opened at $54.64 on Friday. Abbott Laboratories has a 1 year low of $37.90 and a 1 year high of $56.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The company has a market cap of $95,193.46, a P/E ratio of 22.69, a PEG ratio of 2.05 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the company earned $0.59 EPS. Abbott Laboratories’s revenue was up 28.8% on a year-over-year basis. research analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is 83.47%.

In other news, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the completion of the sale, the insider now owns 58,739 shares in the company, valued at approximately $3,052,665.83. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 588,013 shares of company stock valued at $32,023,946. 0.76% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY WARNING: “Aureus Asset Management LLC Has $719,000 Position in Abbott Laboratories (ABT)” was first posted by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://weekherald.com/2017/12/09/aureus-asset-management-llc-has-719000-position-in-abbott-laboratories-abt.html.

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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply