Narwhal Capital Management Acquires Shares of 45,967 Abbott Laboratories (ABT)

Narwhal Capital Management acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 45,967 shares of the healthcare product maker’s stock, valued at approximately $2,623,000.

A number of other large investors also recently made changes to their positions in the business. Culbertson A N & Co. Inc. raised its stake in Abbott Laboratories by 0.9% during the fourth quarter. Culbertson A N & Co. Inc. now owns 111,356 shares of the healthcare product maker’s stock valued at $6,355,000 after buying an additional 1,047 shares during the last quarter. Palo Capital Inc. raised its stake in Abbott Laboratories by 9.2% during the fourth quarter. Palo Capital Inc. now owns 80,320 shares of the healthcare product maker’s stock valued at $4,584,000 after buying an additional 6,798 shares during the last quarter. Patten & Patten Inc. TN raised its stake in Abbott Laboratories by 83.9% during the fourth quarter. Patten & Patten Inc. TN now owns 32,389 shares of the healthcare product maker’s stock valued at $1,848,000 after buying an additional 14,775 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Abbott Laboratories by 12.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 33,149 shares of the healthcare product maker’s stock valued at $1,891,000 after buying an additional 3,566 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. raised its stake in Abbott Laboratories by 4.2% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 28,888 shares of the healthcare product maker’s stock valued at $1,649,000 after buying an additional 1,176 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company’s stock.

In related news, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the completion of the sale, the insider now owns 25,618 shares of the company’s stock, valued at $1,437,682.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. Insiders sold 350,592 shares of company stock valued at $19,426,949 in the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

Shares of Abbott Laboratories (NYSE:ABT) opened at $60.17 on Tuesday. 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 has a fifty-two week low of $42.31 and a fifty-two week high of $64.60. The company has a market capitalization of $105,076.91, a price-to-earnings ratio of 231.43, a P/E/G ratio of 1.81 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. Abbott Laboratories’s revenue was up 42.3% compared to the same quarter last year. analysts forecast that Abbott Laboratories will post 2.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is currently 430.79%.

ABT has been the subject of a number of recent research reports. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 9th. Evercore ISI assumed coverage on Abbott Laboratories in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price for the company. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Finally, BTIG Research lowered 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. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $65.47.

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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.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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