Lourd Capital LLC lessened its stake in Abbott Laboratories (NYSE:ABT) by 26.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 7,682 shares of the healthcare product maker’s stock after selling 2,725 shares during the period. Lourd Capital LLC’s holdings in Abbott Laboratories were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. First Command Bank increased its position in Abbott Laboratories by 2.5% during the 1st quarter. First Command Bank now owns 6,101 shares of the healthcare product maker’s stock worth $488,000 after purchasing an additional 146 shares during the period. Pinkerton Retirement Specialists LLC increased its position in Abbott Laboratories by 0.3% during the 4th quarter. Pinkerton Retirement Specialists LLC now owns 49,500 shares of the healthcare product maker’s stock worth $3,580,000 after purchasing an additional 147 shares during the period. Delta Asset Management LLC TN increased its position in Abbott Laboratories by 1.3% during the 4th quarter. Delta Asset Management LLC TN now owns 11,614 shares of the healthcare product maker’s stock worth $840,000 after purchasing an additional 150 shares during the period. Annex Advisory Services LLC increased its position in Abbott Laboratories by 1.0% during the 4th quarter. Annex Advisory Services LLC now owns 15,089 shares of the healthcare product maker’s stock worth $1,091,000 after purchasing an additional 150 shares during the period. Finally, Fairview Capital Investment Management LLC increased its position in Abbott Laboratories by 2.5% during the 4th quarter. Fairview Capital Investment Management LLC now owns 6,168 shares of the healthcare product maker’s stock worth $446,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 74.70% of the company’s stock.
In related news, EVP Stephen R. Fussell sold 56,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $76.00, for a total value of $4,256,000.00. Following the sale, the executive vice president now owns 225,935 shares in the company, valued at approximately $17,171,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jared Watkin sold 309,429 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $78.51, for a total value of $24,293,270.79. Following the completion of the sale, the insider now owns 189,227 shares in the company, valued at approximately $14,856,211.77. The disclosure for this sale can be found here. In the last 90 days, insiders sold 551,643 shares of company stock worth $42,471,501. Insiders own 0.70% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $7.54 billion for the quarter, compared to analysts’ expectations of $7.49 billion. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 3.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
ABT has been the topic of several recent analyst reports. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, January 24th. Argus boosted their target price on Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a research report on Friday, January 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Monday, January 28th. Bank of America reiterated a “buy” rating and set a $81.00 target price (up previously from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. Finally, Barclays set a $84.00 target price on Abbott Laboratories and gave the stock a “buy” rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $80.36.
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About Abbott Laboratories
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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