BB&T Corp decreased its holdings in Abbott Laboratories (NYSE:ABT) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 443,642 shares of the healthcare product maker’s stock after selling 14,234 shares during the quarter. BB&T Corp’s holdings in Abbott Laboratories were worth $25,319,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after acquiring an additional 3,241,063 shares during the period. Capital Research Global Investors grew its position in Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after acquiring an additional 14,918,038 shares during the period. Northern Trust Corp grew its position in Abbott Laboratories by 3.1% in the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after acquiring an additional 809,732 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after buying an additional 2,606,404 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Abbott Laboratories by 7.7% during the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after buying an additional 830,610 shares during the period. 72.46% of the stock is owned by institutional investors.
Several research firms have recently commented on ABT. Leerink Swann restated a “market perform” rating and set a $68.00 price target (up from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Bank of America increased their price objective on Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. BMO Capital Markets increased their price objective on Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Evercore ISI initiated coverage on Abbott Laboratories in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $65.47.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same period in the previous year, the company earned $0.65 EPS. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. equities research analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.28 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.77%. Abbott Laboratories’s payout ratio is currently 430.79%.
In other news, SVP Jared Watkin sold 996 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $58.87, for a total value of $58,634.52. Following the sale, the senior vice president now owns 69,511 shares in the company, valued at approximately $4,092,112.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Sharon J. Bracken sold 2,100 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $60.27, for a total transaction of $126,567.00. Following the completion of the sale, the senior vice president now owns 44,790 shares in the company, valued at approximately $2,699,493.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,580 shares of company stock valued at $9,115,267. 0.76% of the stock is currently owned by corporate insiders.
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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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