Anchor Capital Advisors LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 529,796 shares of the healthcare product maker’s stock after selling 21,297 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Abbott Laboratories were worth $30,235,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Farmers National Bank boosted its position in shares of Abbott Laboratories by 2.4% during the second quarter. Farmers National Bank now owns 3,653 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 85 shares during the period. Flagship Harbor Advisors LLC boosted its position in shares of Abbott Laboratories by 0.7% during the second quarter. Flagship Harbor Advisors LLC now owns 12,341 shares of the healthcare product maker’s stock worth $600,000 after buying an additional 87 shares during the period. Hedeker Wealth LLC boosted its position in shares of Abbott Laboratories by 0.5% during the second quarter. Hedeker Wealth LLC now owns 24,678 shares of the healthcare product maker’s stock worth $1,199,000 after buying an additional 116 shares during the period. L & S Advisors Inc raised its stake in shares of Abbott Laboratories by 0.7% in the second quarter. L & S Advisors Inc now owns 21,348 shares of the healthcare product maker’s stock valued at $1,038,000 after acquiring an additional 150 shares in the last quarter. Finally, Moors & Cabot Inc. raised its stake in shares of Abbott Laboratories by 0.3% in the second quarter. Moors & Cabot Inc. now owns 48,781 shares of the healthcare product maker’s stock valued at $2,376,000 after acquiring an additional 161 shares in the last quarter. 72.37% of the stock is owned by institutional investors and hedge funds.
In other Abbott Laboratories news, Director Daniel J. Starks purchased 40,037 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average cost of $60.67 per share, for a total transaction of $2,429,044.79. Following the acquisition, the director now owns 6,943,348 shares of the company’s stock, valued at approximately $421,252,923.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Blaser sold 27,733 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total value of $1,726,656.58. Following the completion of the transaction, the insider now owns 156,587 shares of the company’s stock, valued at $9,749,106.62. 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 90 days. Insiders own 0.74% of the company’s stock.
ABT has been the topic of several analyst reports. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 2nd. Royal Bank of Canada restated a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Morgan Stanley upgraded Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a research note on Tuesday, January 2nd. JPMorgan Chase upgraded Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $58.00 to $65.00 in a report on Tuesday, December 12th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $65.47.
ABT traded down $2.29 during trading on Friday, reaching $57.57. The company’s stock had a trading volume of 7,447,118 shares, compared to its average volume of 6,079,406. Abbott Laboratories has a 52-week low of $42.31 and a 52-week 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. The firm has a market capitalization of $100,536.45, a PE ratio of 23.03, a P/E/G ratio of 1.71 and a beta of 1.50.
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, beating the Zacks’ 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 company 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 earned $0.65 EPS. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. sell-side analysts predict that Abbott Laboratories will post 2.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors 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 1.95%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
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About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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