Abbott Laboratories (NYSE:ABT) Stock Position Reduced by Silver Lake Advisory LLC

Silver Lake Advisory LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 16.0% during the third quarter, Holdings Channel.com reports. The firm owned 64,492 shares of the healthcare product maker’s stock after selling 12,284 shares during the quarter. Abbott Laboratories makes up approximately 3.5% of Silver Lake Advisory LLC’s portfolio, making the stock its 3rd biggest position. Silver Lake Advisory LLC’s holdings in Abbott Laboratories were worth $5,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Avitas Wealth Management LLC raised its stake in shares of Abbott Laboratories by 1.4% in the 3rd quarter. Avitas Wealth Management LLC now owns 34,639 shares of the healthcare product maker’s stock valued at $2,898,000 after acquiring an additional 480 shares during the period. Whittier Trust Co. raised its stake in shares of Abbott Laboratories by 3.6% in the 3rd quarter. Whittier Trust Co. now owns 319,814 shares of the healthcare product maker’s stock valued at $26,758,000 after acquiring an additional 11,172 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Abbott Laboratories by 1.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 151,589 shares of the healthcare product maker’s stock valued at $12,683,000 after acquiring an additional 2,528 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of Abbott Laboratories by 0.9% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 181,733 shares of the healthcare product maker’s stock valued at $15,206,000 after acquiring an additional 1,689 shares during the period. Finally, Mechanics Bank Trust Department raised its stake in shares of Abbott Laboratories by 9.9% in the 3rd quarter. Mechanics Bank Trust Department now owns 116,570 shares of the healthcare product maker’s stock valued at $9,753,000 after acquiring an additional 10,540 shares during the period. 73.78% of the stock is currently owned by institutional investors.

Shares of ABT stock traded down $0.80 during trading on Monday, reaching $81.99. The company’s stock had a trading volume of 620,466 shares, compared to its average volume of 4,715,459. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. The company has a market capitalization of $145.60 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 2.31 and a beta of 1.13. The stock’s 50-day moving average price is $82.87 and its 200 day moving average price is $81.76. Abbott Laboratories has a 1-year low of $65.44 and a 1-year high of $88.76.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.84. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.76%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. On average, sell-side analysts anticipate that Abbott Laboratories will post 3.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

In other Abbott Laboratories news, insider Randel William Woodgrift sold 65,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the transaction, the insider now owns 117,562 shares in the company, valued at approximately $10,346,631.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian B. Yoor sold 43,763 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the transaction, the chief financial officer now owns 125,781 shares of the company’s stock, valued at approximately $10,788,236.37. The disclosure for this sale can be found here. Insiders sold 181,497 shares of company stock valued at $15,701,810 in the last 90 days. Company insiders own 0.70% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research note on Wednesday, August 21st. Credit Suisse Group boosted their price target on shares of Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, William Blair restated an “underperform” rating on shares of Abbott Laboratories in a report on Thursday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $87.61.

Abbott Laboratories Profile

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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