Cape Cod Five Cents Savings Bank Sells 2,099 Shares of Abbott Laboratories (NYSE:ABT)

Cape Cod Five Cents Savings Bank decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 43,725 shares of the healthcare product maker’s stock after selling 2,099 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Abbott Laboratories were worth $3,677,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABT. Castle Rock Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 2.4% in the 4th quarter. Castle Rock Wealth Management LLC now owns 14,275 shares of the healthcare product maker’s stock valued at $1,044,000 after buying an additional 334 shares during the period. Fairview Capital Investment Management LLC boosted its stake in shares of Abbott Laboratories by 2.5% in the 4th quarter. Fairview Capital Investment Management LLC now owns 6,168 shares of the healthcare product maker’s stock valued at $446,000 after buying an additional 151 shares during the period. Geode Capital Management LLC boosted its stake in shares of Abbott Laboratories by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock valued at $1,598,270,000 after buying an additional 1,778,840 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Abbott Laboratories by 26.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 206,435 shares of the healthcare product maker’s stock valued at $14,932,000 after buying an additional 43,704 shares during the period. Finally, Abacus Planning Group Inc. boosted its stake in shares of Abbott Laboratories by 1,765.9% in the 4th quarter. Abacus Planning Group Inc. now owns 58,793 shares of the healthcare product maker’s stock valued at $9,274,000 after buying an additional 55,642 shares during the period. Institutional investors own 73.42% of the company’s stock.

In related news, insider Randel William Woodgrift sold 65,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the transaction, the insider now owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value of $219,125.00. Following the transaction, the director now directly owns 26,266 shares in the company, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. In the last three months, insiders sold 885,102 shares of company stock worth $71,110,429. Corporate insiders own 0.70% of the company’s stock.

Several equities analysts have recently issued reports on the company. Raymond James lifted their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley lifted their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Cowen lifted their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Friday, June 7th. Finally, William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $85.82.

NYSE:ABT opened at $86.89 on Wednesday. The firm has a market capitalization of $153.09 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The company has a 50 day moving average of $85.76. Abbott Laboratories has a 12-month low of $63.07 and a 12-month high of $88.76.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. On average, analysts expect that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s payout ratio is currently 44.44%.

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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