Ballentine Partners LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 18.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,923 shares of the healthcare product maker’s stock after selling 1,977 shares during the quarter. Ballentine Partners LLC’s holdings in Abbott Laboratories were worth $509,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of ABT. Beach Investment Management LLC. increased its stake in Abbott Laboratories by 2,161.4% during the 2nd quarter. Beach Investment Management LLC. now owns 302,577 shares of the healthcare product maker’s stock worth $14,708,000 after buying an additional 289,197 shares during the period. Fagan Associates Inc. purchased a new stake in Abbott Laboratories during the 2nd quarter worth $335,000. TRUE Private Wealth Advisors purchased a new stake in Abbott Laboratories during the 2nd quarter worth $218,000. Burt Wealth Advisors increased its stake in Abbott Laboratories by 14.4% during the 2nd quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock worth $154,000 after buying an additional 400 shares during the period. Finally, Parallel Advisors LLC increased its stake in Abbott Laboratories by 12.1% during the 2nd quarter. Parallel Advisors LLC now owns 12,648 shares of the healthcare product maker’s stock worth $622,000 after buying an additional 1,365 shares during the period. 72.37% of the stock is currently owned by institutional investors.
Shares of Abbott Laboratories stock traded down $1.71 during trading on Monday, hitting $58.21. The stock had a trading volume of 6,686,491 shares, compared to its average volume of 7,199,069. The company has a market cap of $104,640.33, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 1.78 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. analysts expect that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.80%.
Several research analysts have weighed in on ABT shares. Bank of America lifted their price target on shares of Abbott Laboratories from $60.00 to $70.00 in a report on Wednesday, January 24th. They noted that the move was a valuation call. Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada reissued a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Barclays reissued a “buy” rating and set a $66.00 target price on shares of Abbott Laboratories in a research note on Monday, January 8th. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $65.47.
In related news, EVP Stephen R. Fussell sold 13,313 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the transaction, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jared Watkin sold 996 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $58.87, for a total transaction of $58,634.52. Following the transaction, the senior vice president now directly owns 69,511 shares in the company, valued at $4,092,112.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,261 shares of company stock worth $7,559,987. 0.74% of the stock is currently owned by insiders.
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.
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