Pallas Capital Advisors LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT – Get Rating) by 67.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,144 shares of the healthcare product maker’s stock after selling 8,445 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Abbott Laboratories were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in ABT. Webster Bank NA grew its stake in shares of Abbott Laboratories by 0.8% in the 4th quarter. Webster Bank NA now owns 10,473 shares of the healthcare product maker’s stock worth $1,474,000 after purchasing an additional 78 shares during the last quarter. Sequent Asset Management LLC grew its stake in shares of Abbott Laboratories by 1.3% in the 4th quarter. Sequent Asset Management LLC now owns 6,086 shares of the healthcare product maker’s stock worth $856,000 after purchasing an additional 80 shares during the last quarter. Centaurus Financial Inc. grew its stake in shares of Abbott Laboratories by 1.2% in the 4th quarter. Centaurus Financial Inc. now owns 6,878 shares of the healthcare product maker’s stock worth $968,000 after purchasing an additional 80 shares during the last quarter. Innovative Portfolios grew its stake in shares of Abbott Laboratories by 3.2% in the 4th quarter. Innovative Portfolios now owns 2,608 shares of the healthcare product maker’s stock worth $367,000 after purchasing an additional 81 shares during the last quarter. Finally, Insight Folios Inc grew its stake in shares of Abbott Laboratories by 3.6% in the 4th quarter. Insight Folios Inc now owns 2,417 shares of the healthcare product maker’s stock worth $340,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.
NYSE ABT opened at $110.22 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $192.99 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. The company has a 50 day moving average price of $111.39 and a two-hundred day moving average price of $120.44. Abbott Laboratories has a 12-month low of $101.24 and a 12-month high of $142.60.
Abbott Laboratories (NYSE:ABT – Get Rating) last posted its earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. The firm had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11 billion. Abbott Laboratories had a net margin of 17.35% and a return on equity of 28.72%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. As a group, equities analysts anticipate that Abbott Laboratories will post 4.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 43.62%.
In other news, SVP Randel William Woodgrift sold 24,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $113.00, for a total value of $2,712,000.00. Following the completion of the sale, the senior vice president now directly owns 47,854 shares in the company, valued at $5,407,502. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $113.22, for a total transaction of $5,661,000.00. Following the completion of the sale, the director now owns 6,973,500 shares of the company’s stock, valued at $789,539,670. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Several equities analysts have recently issued reports on ABT shares. Morgan Stanley lowered their price objective on shares of Abbott Laboratories from $151.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 7th. StockNews.com began coverage on shares of Abbott Laboratories in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Raymond James dropped their target price on shares of Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Citigroup dropped their target price on shares of Abbott Laboratories from $154.00 to $125.00 and set a “na” rating on the stock in a research report on Tuesday, May 17th. Finally, Royal Bank of Canada dropped their target price on shares of Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $139.64.
Abbott Laboratories Profile: (Get Rating)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments. Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate the physiological rhythm of the colon.
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