Altium Wealth Management LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 28.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,331 shares of the healthcare product maker’s stock after selling 13,694 shares during the quarter. Altium Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,483,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. DeDora Capital Inc. lifted its stake in Abbott Laboratories by 49.1% in the fourth quarter. DeDora Capital Inc. now owns 23,345 shares of the healthcare product maker’s stock valued at $1,689,000 after buying an additional 7,692 shares during the last quarter. Nachman Norwood & Parrott Inc bought a new stake in Abbott Laboratories in the fourth quarter valued at $2,563,000. Joel Isaacson & Co. LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at $239,000. Stewart & Patten Co. LLC lifted its stake in Abbott Laboratories by 0.5% in the fourth quarter. Stewart & Patten Co. LLC now owns 278,050 shares of the healthcare product maker’s stock valued at $20,111,000 after buying an additional 1,321 shares during the last quarter. Finally, Appleton Partners Inc. MA lifted its stake in Abbott Laboratories by 2.9% in the fourth quarter. Appleton Partners Inc. MA now owns 20,475 shares of the healthcare product maker’s stock valued at $1,481,000 after buying an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 72.71% of the company’s stock.
A number of research firms have issued reports on ABT. Morgan Stanley raised their target price on Abbott Laboratories from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, December 4th. Goldman Sachs Group upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and raised their target price for the company from $78.00 to $81.00 in a research note on Friday, November 30th. Bank of America reissued a “buy” rating and set a $81.00 price target (up from $73.00) on shares of Abbott Laboratories in a report on Thursday. Citigroup lowered Abbott Laboratories from a “neutral” rating to a “sell” rating and lowered their price target for the company from $72.00 to $68.00 in a report on Wednesday, January 2nd. Finally, Argus raised their price target on Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a report on Friday, January 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $79.48.
In related news, Chairman Miles D. White sold 142,341 shares of Abbott Laboratories stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $72.35, for a total value of $10,298,371.35. Following the transaction, the chairman now owns 3,459,185 shares of the company’s stock, valued at approximately $250,272,034.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website . Also, insider Jaime Contreras sold 177,457 shares of Abbott Laboratories stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total value of $12,421,990.00. Following the completion of the transaction, the insider now directly owns 100,985 shares in the company, valued at approximately $7,068,950. The disclosure for this sale can be found here . Company insiders own 0.74% of the company’s stock.
NYSE:ABT opened at $73.33 on Friday. The stock has a market cap of $127.76 billion, a P/E ratio of 25.46, a PEG ratio of 1.94 and a beta of 1.14. Abbott Laboratories has a 52-week low of $55.58 and a 52-week high of $74.92. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.82 billion. Abbott Laboratories had a return on equity of 16.50% and a net margin of 7.74%. Abbott Laboratories’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Sell-side analysts anticipate that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be paid a $0.32 dividend. The ex-dividend date is Monday, January 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.75%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.28. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière’s disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon. Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT) Receive News & Ratings for Abbott Laboratories Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Abbott Laboratories and related companies with MarketBeat.com’s FREE daily email newsletter .
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