BT Wealth Management LLC bought a new stake in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,132 shares of the healthcare product maker’s stock, valued at approximately $897,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Csenge Advisory Group acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $31,000. 1 North Wealth Services LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $33,000. Brand Asset Management Group Inc. boosted its position in shares of Abbott Laboratories by 66.7% in the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Exane Derivatives acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $42,000. Finally, Hirtle Callaghan & Co LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $47,000. 75.17% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the company. Citigroup downgraded Abbott Laboratories from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $72.00 to $68.00 in a research note on Wednesday, January 2nd. Morgan Stanley upped their price objective on Abbott Laboratories from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, January 2nd. Gabelli reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Wednesday, January 2nd. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, January 24th. Finally, Argus upped their price objective on Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a research note on Friday, January 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $80.48.
In other news, insider Jaime Contreras sold 177,457 shares of the stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the completion of the transaction, the insider now directly owns 100,985 shares of the company’s stock, valued at approximately $7,068,950. The sale was disclosed in a document filed with the SEC, which is accessible through this link . Also, insider Sharon J. Bracken sold 5,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $77.83, for a total value of $428,065.00. Following the transaction, the insider now directly owns 50,019 shares of the company’s stock, valued at $3,892,978.77. The disclosure for this sale can be found here . Over the last three months, insiders have sold 280,021 shares of company stock valued at $20,485,856. Company insiders own 0.70% of the company’s stock.
ABT opened at $76.10 on Wednesday. The company has a market cap of $129.96 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.96 and a beta of 1.13. Abbott Laboratories has a 52 week low of $56.81 and a 52 week high of $80.74. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. Abbott Laboratories had a return on equity of 16.91% and a net margin of 8.53%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. On average, equities research analysts expect that Abbott Laboratories will post 3.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 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 1.68%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
Abbott Laboratories Company 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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