Marble Harbor Investment Counsel LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,987 shares of the healthcare product maker’s stock after selling 550 shares during the period. Abbott Laboratories accounts for approximately 2.7% of Marble Harbor Investment Counsel LLC’s investment portfolio, making the stock its 10th biggest position. Marble Harbor Investment Counsel LLC’s holdings in Abbott Laboratories were worth $12,249,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the business. Sanders Morris Harris LLC lifted its position in Abbott Laboratories by 0.3% during the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after purchasing an additional 16 shares during the period. St. Louis Trust Co lifted its position in Abbott Laboratories by 0.4% during the second quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after purchasing an additional 20 shares during the period. Alpha Windward LLC lifted its position in Abbott Laboratories by 0.6% during the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock worth $264,000 after purchasing an additional 30 shares during the period. Lakeview Capital Partners LLC lifted its position in Abbott Laboratories by 0.6% during the second quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after purchasing an additional 33 shares during the period. Finally, Johanson Financial Advisors Inc. raised its stake in Abbott Laboratories by 0.5% during the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 69.99% of the company’s stock.
Several research analysts have commented on ABT shares. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. J P Morgan Chase & Co started coverage on Abbott Laboratories in a research note on Friday, October 6th. They set a “neutral” rating and a $60.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Cowen and Company set a $68.00 price objective on Abbott Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Abbott Laboratories in a research note on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $56.81.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same period last year, the firm posted $0.59 EPS. The business’s revenue was up 28.8% compared to the same quarter last year. sell-side analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current year.
The firm also recently announced 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 1.91%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 87.60%.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the completion of the transaction, the executive vice president now owns 142,082 shares in the company, valued at approximately $7,986,429.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the transaction, the insider now owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 282,920 shares of company stock valued at $15,389,766. Insiders own 0.76% of the company’s stock.
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Abbott Laboratories 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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