Dixon Hubard Feinour & Brown Inc. VA held its stake in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, Holdings Channel reports. The fund owned 9,670 shares of the healthcare product maker’s stock at the end of the third quarter. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Abbott Laboratories were worth $409,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of ABT. Kanaly Trust Co increased its position in shares of Abbott Laboratories by 3.7% in the third quarter. Kanaly Trust Co now owns 2,584 shares of the healthcare product maker’s stock worth $109,000 after buying an additional 91 shares during the last quarter. Krilogy Financial LLC increased its position in shares of Abbott Laboratories by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,685 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 229 shares during the last quarter. SeaBridge Investment Advisors LLC increased its position in shares of Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock worth $113,000 after buying an additional 275 shares during the last quarter. Perceptive Advisors LLC purchased a new position in shares of Abbott Laboratories during the second quarter worth approximately $120,000. Finally, Guidant Wealth Advisors purchased a new position in shares of Abbott Laboratories during the third quarter worth approximately $130,000. Hedge funds and other institutional investors own 61.61% of the company’s stock.
Abbott Laboratories (NYSE:ABT) traded down 0.34% during midday trading on Wednesday, hitting $40.76. 7,195,205 shares of the company’s stock traded hands. The company has a market capitalization of $60.01 billion, a PE ratio of 44.50 and a beta of 0.92. The company has a 50 day moving average of $39.14 and a 200-day moving average of $41.21. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $45.79.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.29 billion. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.46%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities research analysts predict that Abbott Laboratories will post $2.20 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, January 11th. This represents a $1.06 annualized dividend and a yield of 2.60%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.26. Abbott Laboratories’s dividend payout ratio is presently 116.48%.
A number of brokerages have commented on ABT. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Tuesday, January 10th. Jefferies Group restated a “buy” rating and set a $46.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, December 20th. Finally, TheStreet downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 2nd. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $46.43.
In related news, Director Sally E. Blount acquired 5,100 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, November 1st. The stock was acquired at an average price of $39.24 per share, with a total value of $200,124.00. Following the completion of the acquisition, the director now directly owns 20,143 shares of the company’s stock, valued at approximately $790,411.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Miles D. White acquired 121,456 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, November 10th. The stock was bought at an average cost of $40.45 per share, with a total value of $4,912,895.20. Following the acquisition, the chairman now directly owns 2,802,558 shares of the company’s stock, valued at $113,363,471.10. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by corporate insiders.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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