November 10, 2019 at 2:45 pm

Public Employees Retirement Association of Colorado Sells 463 Shares of Abbott Laboratories (NYSE:ABT)

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Public Employees Retirement Association of Colorado trimmed its position in Abbott Laboratories (NYSE:ABT) by 0.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,262,378 shares of the healthcare product maker’s stock after selling 463 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Abbott Laboratories were worth $105,623,000 at the end of the most recent reporting period.

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Several other hedge funds have also recently modified their holdings of ABT. Bath Savings Trust Co increased its holdings in Abbott Laboratories by 2.7% in the second quarter. Bath Savings Trust Co now owns 52,679 shares of the healthcare product maker’s stock worth $4,430,000 after purchasing an additional 1,375 shares in the last quarter. Cox Capital Mgt LLC increased its holdings in Abbott Laboratories by 5.0% in the second quarter. Cox Capital Mgt LLC now owns 20,915 shares of the healthcare product maker’s stock worth $1,759,000 after purchasing an additional 1,002 shares in the last quarter. Thomasville National Bank increased its holdings in Abbott Laboratories by 1.6% in the second quarter. Thomasville National Bank now owns 28,673 shares of the healthcare product maker’s stock worth $2,411,000 after purchasing an additional 455 shares in the last quarter. Private Trust Co. NA increased its holdings in Abbott Laboratories by 7.0% in the second quarter. Private Trust Co. NA now owns 36,943 shares of the healthcare product maker’s stock worth $3,106,000 after purchasing an additional 2,411 shares in the last quarter. Finally, LVM Capital Management Ltd. MI increased its holdings in Abbott Laboratories by 1.2% in the second quarter. LVM Capital Management Ltd. MI now owns 31,146 shares of the healthcare product maker’s stock worth $2,619,000 after purchasing an additional 373 shares in the last quarter. 73.77% of the stock is currently owned by hedge funds and other institutional investors.

ABT has been the subject of several recent research reports. Raymond James decreased their price objective on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 14th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a report on Wednesday, August 21st. Cowen boosted their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Credit Suisse Group boosted their price objective on Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $87.61.

Shares of NYSE:ABT traded up $0.35 during mid-day trading on Friday, hitting $83.74. 3,388,511 shares of the company traded hands, compared to its average volume of 5,339,424. The stock has a market cap of $145.61 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.38 and a beta of 1.13. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 12-month low of $65.44 and a 12-month high of $88.76. The stock has a 50-day moving average price of $82.03 and a two-hundred day moving average price of $82.26.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. Abbott Laboratories’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, analysts expect that Abbott Laboratories will post 3.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. Abbott Laboratories’s payout ratio is 44.44%.

In related news, SVP Joseph J. Manning sold 47,226 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the transaction, the senior vice president now owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Randel William Woodgrift sold 21,000 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total value of $1,691,340.00. Following the transaction, the senior vice president now directly owns 68,562 shares in the company, valued at approximately $5,521,983.48. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

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

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