Handelsinvest Investeringsforvaltning purchased a new position in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,721 shares of the healthcare product maker’s stock, valued at approximately $631,000.
Several other hedge funds have also recently bought and sold shares of ABT. Vanguard Group Inc. boosted its position in shares of 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 last quarter. Vanguard Group Inc boosted its position in shares of 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 last quarter. BlackRock Inc. boosted its position in shares of 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 last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 buying an additional 27,208,125 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of 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 buying an additional 1,547,898 shares in the last quarter. Institutional investors own 74.36% of the company’s stock.
A number of brokerages recently weighed in on ABT. Argus raised their price objective 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. Gabelli reissued a “buy” rating on shares of Abbott Laboratories in a report on Wednesday, January 2nd. Goldman Sachs Group raised Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $74.10 price objective on the stock in a report on Sunday, December 9th. UBS Group began coverage on Abbott Laboratories in a report on Tuesday, November 27th. They set a “buy” rating and a $83.00 price objective on the stock. Finally, Raymond James raised their price objective on Abbott Laboratories from $77.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.48.
In other news, insider Jaime Contreras sold 177,457 shares of Abbott Laboratories stock in a transaction that occurred on 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 sale, the insider now directly owns 100,985 shares in the company, valued at approximately $7,068,950. The sale was disclosed in a filing with the SEC, which is available through this link . Also, Director John G. Stratton acquired 3,455 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was acquired at an average price of $72.32 per share, for a total transaction of $249,865.60. Following the completion of the transaction, the director now owns 3,558 shares in the company, valued at approximately $257,314.56. The disclosure for this purchase can be found here . 0.74% of the stock is currently owned by company insiders.
Shares of Abbott Laboratories stock opened at $73.54 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. The company has a market capitalization of $128.79 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 1.95 and a beta of 1.14. Abbott Laboratories has a one year low of $56.81 and a one year high of $74.92.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.82 billion. Abbott Laboratories had a return on equity of 16.50% and a net margin of 7.74%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. As a group, equities analysts expect that Abbott Laboratories will post 3.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be paid a $0.32 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Monday, January 14th. Abbott Laboratories’s payout ratio is 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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