Front Row Advisors LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 790.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 392 shares of the healthcare product maker’s stock after purchasing an additional 348 shares during the quarter. Front Row Advisors LLC’s holdings in Abbott Laboratories were worth $31,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Bank OZK grew its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. Bank OZK now owns 24,326 shares of the healthcare product maker’s stock valued at $1,944,000 after purchasing an additional 133 shares during the period. First Command Bank lifted its stake in Abbott Laboratories by 2.5% in the 1st quarter. First Command Bank now owns 6,101 shares of the healthcare product maker’s stock valued at $488,000 after acquiring an additional 146 shares in the last quarter. Pinkerton Retirement Specialists LLC lifted its stake in Abbott Laboratories by 0.3% in the 4th quarter. Pinkerton Retirement Specialists LLC now owns 49,500 shares of the healthcare product maker’s stock valued at $3,580,000 after acquiring an additional 147 shares in the last quarter. Delta Asset Management LLC TN lifted its stake in Abbott Laboratories by 1.3% in the 4th quarter. Delta Asset Management LLC TN now owns 11,614 shares of the healthcare product maker’s stock valued at $840,000 after acquiring an additional 150 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its stake in Abbott Laboratories by 1.0% in the 4th quarter. Annex Advisory Services LLC now owns 15,089 shares of the healthcare product maker’s stock valued at $1,091,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 73.36% of the company’s stock.
In related news, EVP Stephen R. Fussell sold 56,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $76.00, for a total value of $4,256,000.00. Following the sale, the executive vice president now owns 225,935 shares in the company, valued at approximately $17,171,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaime Contreras sold 918 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $73.12, for a total value of $67,124.16. Following the completion of the sale, the senior vice president now owns 34,706 shares in the company, valued at approximately $2,537,702.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 922,623 shares of company stock worth $70,308,258. 0.70% of the stock is owned by company insiders.
Shares of Abbott Laboratories stock opened at $82.22 on Monday. Abbott Laboratories has a 12-month low of $60.31 and a 12-month high of $82.86. The company has a market cap of $145.05 billion, a PE ratio of 28.55, a P/E/G ratio of 2.31 and a beta of 1.08. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.61.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The company had revenue of $7.54 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 3.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio is 44.44%.
Several research firms have commented on ABT. Bank of America restated a “buy” rating and issued a $81.00 target price on shares of Abbott Laboratories in a research note on Thursday. Wells Fargo & Co boosted their target price on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research note on Friday, June 7th. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. Finally, Royal Bank of Canada boosted their target price on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $80.89.
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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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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