Rice Hall James & Associates LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,637 shares of the healthcare product maker’s stock after selling 1,008 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Abbott Laboratories were worth $892,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ABT. Bredin Investment LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth $1,183,000. Narwhal Capital Management purchased a new stake in Abbott Laboratories in the 4th quarter worth $2,623,000. Culbertson A N & Co. Inc. increased its holdings in Abbott Laboratories by 0.9% in the 4th quarter. Culbertson A N & Co. Inc. now owns 111,356 shares of the healthcare product maker’s stock worth $6,355,000 after acquiring an additional 1,047 shares in the last quarter. Palo Capital Inc. increased its holdings in Abbott Laboratories by 9.2% in the 4th quarter. Palo Capital Inc. now owns 80,320 shares of the healthcare product maker’s stock worth $4,584,000 after acquiring an additional 6,798 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its holdings in Abbott Laboratories by 83.9% in the 4th quarter. Patten & Patten Inc. TN now owns 32,389 shares of the healthcare product maker’s stock worth $1,848,000 after acquiring an additional 14,775 shares in the last quarter. 70.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (NYSE ABT) opened at $59.12 on Wednesday. Abbott Laboratories has a one year low of $42.31 and a one year high of $64.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The stock has a market cap of $105,076.91, a price-to-earnings ratio of 227.39, a price-to-earnings-growth ratio of 1.81 and a beta of 1.56.
Abbott Laboratories (NYSE:ABT) last announced 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 firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The company’s revenue was up 42.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. sell-side analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current 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. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is 430.79%.
Several equities research analysts recently commented on ABT shares. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, October 30th. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $58.00 to $65.00 in a report on Tuesday, December 12th. Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target for the company in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target for the company in a report on Tuesday, January 2nd. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.47.
In other news, EVP Stephen R. Fussell sold 13,313 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sharon J. Bracken sold 2,188 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the transaction, the insider now directly owns 25,618 shares in the company, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 348,439 shares of company stock worth $19,306,683. Corporate insiders own 0.76% of the company’s stock.
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Abbott Laboratories 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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