Excalibur Management Corp Decreases Stake in Abbott Laboratories (NYSE:ABT)

Excalibur Management Corp reduced its holdings in Abbott Laboratories (NYSE:ABT) by 50.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,385 shares of the healthcare product maker’s stock after selling 10,780 shares during the period. Excalibur Management Corp’s holdings in Abbott Laboratories were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ABT. Manchester Financial Inc. purchased a new position in Abbott Laboratories in the second quarter valued at approximately $30,000. Redhawk Wealth Advisors Inc. acquired a new position in Abbott Laboratories in the second quarter worth $33,000. Pearl River Capital LLC acquired a new position in Abbott Laboratories in the second quarter worth $41,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Abbott Laboratories in the second quarter worth $42,000. Finally, Canton Hathaway LLC acquired a new position in Abbott Laboratories in the third quarter worth $42,000. 73.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ABT traded down $0.64 during midday trading on Monday, reaching $82.15. 2,100,194 shares of the company traded hands, compared to its average volume of 4,715,459. Abbott Laboratories has a 52 week low of $65.44 and a 52 week high of $88.76. The stock has a 50-day moving average price of $82.87 and a 200 day moving average price of $81.76. 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 cap of $145.60 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.31 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last issued 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. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.76%. The business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. As a group, analysts expect that Abbott Laboratories will post 3.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.32 per share. 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 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 dated Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total value of $5,720,650.00. Following the sale, the insider now directly owns 117,562 shares in the company, valued at $10,346,631.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the sale, the director now owns 26,266 shares in the company, valued at $2,302,214.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,497 shares of company stock worth $15,701,810. Company insiders own 0.70% of the company’s stock.

A number of equities analysts have commented on the stock. Credit Suisse Group lifted their price objective on shares of Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James decreased their price objective on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 14th. BMO Capital Markets lifted their price objective on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a report on Thursday. Two research 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 an average price target of $87.61.

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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