Shelton Capital Management decreased its holdings in Abbott Laboratories (NYSE:ABT) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,817 shares of the healthcare product maker’s stock after selling 2,300 shares during the period. Shelton Capital Management’s holdings in Abbott Laboratories were worth $4,327,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV bought a new position in shares of Abbott Laboratories during the 4th quarter worth $102,000. Heritage Trust Co grew its position in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares in the last quarter. Tributary Capital Management LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter worth $106,000. Thompson Davis & CO. Inc. grew its position in shares of Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after buying an additional 370 shares in the last quarter. Finally, Cerebellum GP LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth $133,000. Institutional investors and hedge funds own 72.46% of the company’s stock.
Shares of Abbott Laboratories (ABT) opened at $63.18 on Friday. Abbott Laboratories has a 12-month low of $42.31 and a 12-month high of $64.60. The firm has a market capitalization of $109,303.05, a PE ratio of 243.01, a P/E/G ratio of 1.86 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is currently 430.79%.
A number of equities analysts have recently issued reports on ABT shares. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $58.00 to $65.00 in a research report on Tuesday, December 12th. Zacks Investment Research downgraded Abbott Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Tuesday, January 2nd. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $65.47.
In related news, SVP Jared Watkin sold 996 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $58.87, for a total transaction of $58,634.52. Following the sale, the senior vice president now owns 69,511 shares of the company’s stock, valued at $4,092,112.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Sharon J. Bracken sold 2,100 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $60.27, for a total value of $126,567.00. Following the completion of the sale, the senior vice president now directly owns 44,790 shares of the company’s stock, valued at approximately $2,699,493.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,261 shares of company stock worth $7,559,987. 0.76% of the stock is owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: “Shelton Capital Management Sells 2,300 Shares of Abbott Laboratories (ABT)” was reported by Week Herald and is owned by of Week Herald. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://weekherald.com/2018/03/17/shelton-capital-management-sells-2300-shares-of-abbott-laboratories-abt.html.
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.
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).
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.