Reynders McVeigh Capital Management LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,774 shares of the healthcare product maker’s stock after buying an additional 1,529 shares during the quarter. Abbott Laboratories makes up about 2.0% of Reynders McVeigh Capital Management LLC’s holdings, making the stock its 20th biggest position. Reynders McVeigh Capital Management LLC’s holdings in Abbott Laboratories were worth $15,225,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Abbott Laboratories by 2.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,058,560 shares of the healthcare product maker’s stock valued at $288,692,000 after purchasing an additional 116,028 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Abbott Laboratories by 1.1% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 265,465 shares of the healthcare product maker’s stock valued at $15,641,000 after purchasing an additional 3,010 shares during the period. Hedeker Wealth LLC boosted its holdings in Abbott Laboratories by 6.3% in the 4th quarter. Hedeker Wealth LLC now owns 36,588 shares of the healthcare product maker’s stock valued at $2,088,000 after purchasing an additional 2,178 shares during the period. Aries Wealth Management bought a new stake in Abbott Laboratories in the 4th quarter valued at $795,000. Finally, Cypress Wealth Services LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at $1,678,000. 72.46% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Brian J. Blaser sold 27,733 shares of Abbott Laboratories stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the completion of the transaction, the insider now directly owns 156,587 shares of the company’s stock, valued at approximately $9,749,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen R. Fussell sold 13,313 shares of Abbott Laboratories 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 directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The disclosure for this sale can be found here. Insiders have sold a total of 124,261 shares of company stock valued at $7,559,987 over the last three months. 0.76% of the stock is currently owned by insiders.
A number of analysts have weighed in on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, January 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 9th. 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. 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. Finally, BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and increased their price target for the company from $58.00 to $65.00 in a report on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $65.47.
Abbott Laboratories (NYSE ABT) opened at $62.86 on Thursday. The company has a market cap of $110,368.31, a PE ratio of 25.28, a PEG ratio of 1.90 and a beta of 1.52. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same period last year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. research analysts anticipate 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. Investors of record on Friday, April 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 430.79%.
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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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