Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 221,682 shares of the healthcare product maker’s stock after buying an additional 15,700 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Abbott Laboratories were worth $11,879,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Gratus Capital LLC grew its stake in shares of Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after acquiring an additional 1,869 shares during the last quarter. Moody Lynn & Lieberson LLC grew its stake in shares of Abbott Laboratories by 17.1% in the third quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock worth $17,420,000 after acquiring an additional 47,610 shares during the last quarter. Vantage Investment Advisors LLC lifted its holdings in shares of Abbott Laboratories by 103.4% during the second quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after purchasing an additional 36,683 shares in the last quarter. Brightworth bought a new position in shares of Abbott Laboratories during the third quarter valued at $841,000. Finally, RKL Wealth Management LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at $227,000. 70.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on ABT. BMO Capital Markets upped their price target on Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus upped their price target on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. JPMorgan Chase & Co. increased their target price on Abbott Laboratories from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Bank of America increased their target price on Abbott Laboratories from $60.00 to $70.00 in a report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, Leerink Swann reissued a “market perform” rating and issued a $68.00 target price (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $65.47.
In other news, insider Brian J. Blaser sold 27,733 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total value of $1,726,656.58. Following the completion of the sale, the insider now directly owns 156,587 shares of the company’s stock, valued at approximately $9,749,106.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the sale, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The disclosure for this sale can be found here. Insiders have sold a total of 374,458 shares of company stock valued at $20,752,706 in the last 90 days. 0.76% of the stock is currently owned by company insiders.
Shares of Abbott Laboratories (ABT) opened at $57.03 on Wednesday. The stock has a market capitalization of $100,330.00, a PE ratio of 288.20, a P/E/G ratio of 1.72 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. 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 quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. analysts forecast that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is currently 560.00%.
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About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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