South Dakota Investment Council lessened its stake in Abbott Laboratories (NYSE:ABT) by 43.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,799 shares of the healthcare product maker’s stock after selling 9,800 shares during the quarter. South Dakota Investment Council’s holdings in Abbott Laboratories were worth $926,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Csenge Advisory Group purchased a new stake in Abbott Laboratories during the third quarter worth approximately $31,000. 1 North Wealth Services LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth approximately $33,000. Brand Asset Management Group Inc. lifted its stake in Abbott Laboratories by 66.7% during the fourth quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Exane Derivatives purchased a new stake in Abbott Laboratories during the fourth quarter worth approximately $42,000. Finally, Signet Investment Advisory Group Inc. purchased a new stake in Abbott Laboratories during the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 72.57% of the company’s stock.
ABT has been the subject of several recent analyst reports. Citigroup cut Abbott Laboratories from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $72.00 to $68.00 in a research note on Wednesday, January 2nd. UBS Group initiated coverage on Abbott Laboratories in a research report on Tuesday, November 27th. They set a “buy” rating and a $83.00 price target on the stock. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Goldman Sachs Group raised Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $74.10 price target on the stock in a research report on Sunday, December 9th. Finally, Bank of America reaffirmed a “buy” rating and set a $81.00 price target (up previously from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $79.71.
Shares of NYSE:ABT traded up $0.43 during trading on Wednesday, reaching $78.67. The company had a trading volume of 861,246 shares, compared to its average volume of 6,367,930. The firm has a market cap of $133.71 billion, a P/E ratio of 27.32, a PEG ratio of 2.03 and a beta of 1.14. 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 has a fifty-two week low of $56.81 and a fifty-two week high of $78.97.
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, meeting the Zacks’ consensus estimate of $0.81. The business 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%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Research analysts forecast that Abbott Laboratories will post 3.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is currently 44.44%.
In other news, insider Joseph J. Manning sold 1,223 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $95,394.00. Following the transaction, the insider now owns 61,324 shares of the company’s stock, valued at $4,783,272. The transaction was disclosed in a filing with the SEC, which is available at the SEC website . Also, insider Sharon J. Bracken sold 5,500 shares of the business’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 value of $428,065.00. Following the completion of the transaction, the insider now directly owns 50,019 shares in the company, valued at approximately $3,892,978.77. The disclosure for this sale can be found here . In the last three months, insiders sold 189,481 shares of company stock worth $13,358,927. Corporate insiders own 0.74% of the company’s stock.
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 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.
Further Reading: Analyzing a company’s cash flow statement 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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