Essex Savings Bank Purchases New Holdings in Abbott Laboratories (NYSE:ABT)

Essex Savings Bank bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,047 shares of the healthcare product maker’s stock, valued at approximately $437,000.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 139,012,321 shares of the healthcare product maker’s stock valued at $10,197,944,000 after acquiring an additional 2,208,781 shares during the period. Vanguard Group Inc raised its holdings in Abbott Laboratories by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 139,012,321 shares of the healthcare product maker’s stock valued at $10,197,944,000 after acquiring an additional 2,208,781 shares during the period. BlackRock Inc. raised its holdings in Abbott Laboratories by 0.9% during the 3rd quarter. BlackRock Inc. now owns 117,203,489 shares of the healthcare product maker’s stock valued at $8,598,048,000 after acquiring an additional 1,053,749 shares during the period. Bank of New York Mellon Corp raised its holdings in Abbott Laboratories by 102,159.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock valued at $1,997,943,000 after acquiring an additional 27,208,125 shares during the period. Finally, Morgan Stanley raised its holdings in Abbott Laboratories by 7.3% during the 3rd quarter. Morgan Stanley now owns 22,766,174 shares of the healthcare product maker’s stock valued at $1,670,126,000 after acquiring an additional 1,547,898 shares during the period. 72.57% of the stock is owned by institutional investors and hedge funds.

In other Abbott Laboratories news, insider Joseph J. Manning sold 1,223 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $78.00, for a total transaction of $95,394.00. Following the completion of the transaction, the insider now owns 61,324 shares of the company’s stock, valued at $4,783,272. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website . Also, insider Sharon J. Bracken sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $77.83, for a total transaction of $428,065.00. Following the transaction, the insider now directly owns 50,019 shares of the company’s stock, valued at approximately $3,892,978.77. The disclosure for this sale can be found here . Over the last three months, insiders sold 189,481 shares of company stock valued at $13,358,927. 0.74% of the stock is owned by insiders.

A number of research firms have recently commented on ABT. Argus boosted their price target on shares of Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a research report on Friday, January 25th. They noted that the move was a valuation call. Gabelli restated a “buy” rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. Goldman Sachs Group upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $74.10 price target for the company in a research report on Sunday, December 9th. UBS Group started coverage on shares of Abbott Laboratories in a research report on Tuesday, November 27th. They set a “buy” rating and a $83.00 price target for the company. Finally, Barclays set a $84.00 target price on shares of Abbott Laboratories and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $79.71.

ABT stock opened at $77.81 on Tuesday. Abbott Laboratories has a 1 year low of $56.81 and a 1 year high of $78.97. The stock has a market capitalization of $133.71 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.03 and a beta of 1.14. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.50%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. Abbott Laboratories’s revenue was up 2.3% on a year-over-year basis. On average, equities 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 Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, April 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 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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