First Manhattan Co. lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 122,929 shares of the healthcare product maker’s stock after selling 1,000 shares during the period. First Manhattan Co.’s holdings in Abbott Laboratories were worth $7,015,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Gratus Capital LLC raised its holdings in Abbott Laboratories by 0.9% during the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after buying an additional 1,869 shares during the period. Moody Lynn & Lieberson LLC increased its stake in 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 purchasing an additional 47,610 shares during the period. Vantage Investment Advisors LLC increased its stake in Abbott Laboratories by 103.4% in the second quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after purchasing an additional 36,683 shares during the period. Brightworth purchased a new stake in Abbott Laboratories in the third quarter worth $841,000. Finally, RKL Wealth Management LLC purchased a new stake in Abbott Laboratories in the third quarter worth $227,000. Institutional investors own 70.01% of the company’s stock.
In other news, EVP Stephen R. Fussell sold 13,313 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the transaction, the executive vice president now owns 152,343 shares of the company’s stock, valued at approximately $9,573,234.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction 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 transaction, the insider now directly owns 156,587 shares in the company, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. Insiders have sold a total of 350,592 shares of company stock worth $19,426,949 in the last three months. Corporate insiders own 0.76% of the company’s stock.
A number of analysts have weighed in on the company. Argus increased their target price on Abbott Laboratories from $66.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup increased their target price on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Barclays increased their target price on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Guggenheim reiterated a “buy” rating and issued a $72.00 target price on shares of Abbott Laboratories in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $67.00 target price on shares of Abbott Laboratories in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $65.47.
Abbott Laboratories (ABT) opened at $60.17 on Monday. Abbott Laboratories has a 12-month low of $42.31 and a 12-month high of $64.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The stock has a market capitalization of $104,730.00, a price-to-earnings ratio of 57.86, a PEG ratio of 1.81 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was up 42.3% compared to the same quarter last year. research analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.86%. Abbott Laboratories’s payout ratio is 107.69%.
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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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