Private Asset Management Inc. Sells 11,623 Shares of Abbott Laboratories (ABT)

Private Asset Management Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 94.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 655 shares of the healthcare product maker’s stock after selling 11,623 shares during the quarter. Private Asset Management Inc.’s holdings in Abbott Laboratories were worth $655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Heritage Trust Co grew its holdings in Abbott Laboratories by 10.1% during the second 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. Winfield Associates Inc. grew its holdings in Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after buying an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. grew its holdings in Abbott Laboratories by 17.7% during the second 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. JFS Wealth Advisors LLC grew its holdings in Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after buying an additional 2,094 shares in the last quarter. Finally, Motco grew its holdings in Abbott Laboratories by 213.7% during the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 1,962 shares in the last quarter. Hedge funds and other institutional investors own 71.32% of the company’s stock.

In other news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the transaction, the insider now owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold a total of 616,332 shares of company stock worth $33,579,226 in the last ninety days. Insiders own 0.76% of the company’s stock.

Abbott Laboratories (NYSE:ABT) opened at $55.50 on Friday. The stock has a market capitalization of $96,603.35, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.08 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 12 month low of $37.90 and a 12 month high of $56.69.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $6.72 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. equities research analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

Several equities research analysts recently issued reports on ABT shares. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a report on Friday, September 1st. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, September 22nd. Cowen restated a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, September 24th. Wells Fargo & Company upped their price objective on Abbott Laboratories from $57.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Finally, Barclays upped their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 28th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $57.56.

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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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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