TRUE Private Wealth Advisors boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 134.6% in the fourth quarter, Holdings Channel reports. The fund owned 10,135 shares of the healthcare product maker’s stock after purchasing an additional 5,814 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Abbott Laboratories were worth $578,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ABT. Rowland & Co. Investment Counsel ADV purchased a new stake in Abbott Laboratories during the fourth quarter valued at approximately $102,000. Heritage Trust Co raised its holdings in shares of Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares during the last quarter. Tributary Capital Management LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth $106,000. Thompson Davis & CO. Inc. raised its holdings in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after buying an additional 370 shares during the last quarter. Finally, Motco raised its holdings in shares of Abbott Laboratories by 213.7% in the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 1,962 shares during the last quarter. 70.61% of the stock is owned by institutional investors.
A number of research analysts have issued reports on ABT shares. ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Barclays reaffirmed a “buy” rating and issued a $66.00 price target on shares of Abbott Laboratories in a report on Monday, January 8th. BTIG Research cut shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, October 31st. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $68.00 price target (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $65.47.
Shares of Abbott Laboratories (ABT) opened at $60.17 on Friday. The firm has a market cap of $104,731.95, a price-to-earnings ratio of 24.07, a PEG ratio of 1.81 and a beta of 1.56. Abbott Laboratories has a 52 week low of $42.31 and a 52 week high of $64.60. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. research analysts forecast that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.86%. Abbott Laboratories’s payout ratio is currently 430.79%.
In related news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the sale, the insider now owns 102,117 shares in the company, valued at $5,608,265.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders sold 350,592 shares of company stock worth $19,426,949 in the last quarter. Company insiders own 0.76% of the company’s stock.
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Abbott Laboratories Company Profile
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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