Greenleaf Trust raised its stake in Abbott Laboratories (NYSE:ABT) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,276 shares of the healthcare product maker’s stock after acquiring an additional 2,168 shares during the period. Greenleaf Trust’s holdings in Abbott Laboratories were worth $1,214,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Moody Lynn & Lieberson LLC increased its holdings in shares of Abbott Laboratories by 17.1% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock worth $17,420,000 after buying an additional 47,610 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $47,713,000. Vantage Investment Advisors LLC increased its holdings in shares of Abbott Laboratories by 103.4% in the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after buying an additional 36,683 shares during the last quarter. Brightworth bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $841,000. Finally, RKL Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $227,000. Institutional investors own 72.35% of the company’s stock.
In other news, EVP Stephen R. Fussell sold 13,313 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total value of $836,588.92. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen R. Fussell sold 56,401 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the completion of the sale, the insider now directly owns 184,884 shares of the company’s stock, valued at approximately $11,020,935.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,261 shares of company stock valued at $7,559,987. 0.76% of the stock is owned by corporate insiders.
Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Guggenheim reiterated a “buy” rating and set a $72.00 price target on shares of Abbott Laboratories in a report on Thursday, January 25th. Royal Bank of Canada reiterated a “buy” rating and set a $67.00 price target on shares of Abbott Laboratories in a report on Thursday, January 25th. Leerink Swann reiterated a “market perform” rating and set a $68.00 price target (up from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Citigroup upped their price target on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $65.47.
Shares of ABT stock opened at $59.50 on Friday. The stock has a market cap of $106,404.13, a PE ratio of 228.85, a price-to-earnings-growth ratio of 1.81 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86. Abbott Laboratories has a 52-week low of $42.31 and a 52-week high of $64.60.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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. The company had revenue of $7.59 billion during 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 13.88%. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. equities research analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio (DPR) is 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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