Lincoln National Corp decreased its holdings in Abbott Laboratories (NYSE:ABT) by 26.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,334 shares of the healthcare product maker’s stock after selling 13,881 shares during the period. Lincoln National Corp’s holdings in Abbott Laboratories were worth $2,297,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $47,713,000. Folger Hill Asset Management LP purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $1,398,000. Teachers Insurance & Annuity Association of America grew its stake in shares of Abbott Laboratories by 7.4% in the 4th quarter. Teachers Insurance & Annuity Association of America now owns 240,902 shares of the healthcare product maker’s stock valued at $13,748,000 after buying an additional 16,502 shares during the period. Zeke Capital Advisors LLC grew its stake in shares of Abbott Laboratories by 3.2% in the 4th quarter. Zeke Capital Advisors LLC now owns 70,476 shares of the healthcare product maker’s stock valued at $4,022,000 after buying an additional 2,198 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Abbott Laboratories by 7.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 708,263 shares of the healthcare product maker’s stock valued at $40,421,000 after buying an additional 46,818 shares during the period. Institutional investors own 72.09% of the company’s stock.
Abbott Laboratories opened at $61.84 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.66 and a quick ratio of 1.24. The company has a market cap of $107.63 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.76 and a beta of 1.50. Abbott Laboratories has a fifty-two week low of $43.40 and a fifty-two week high of $64.60.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. equities analysts forecast that Abbott Laboratories will post 2.86 EPS for the current year.
In other Abbott Laboratories news, Director Daniel J. Starks purchased 40,037 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $60.67 per share, with a total value of $2,429,044.79. Following the transaction, the director now directly owns 6,943,348 shares of the company’s stock, valued at approximately $421,252,923.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jared Watkin sold 996 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $58.87, for a total transaction of $58,634.52. Following the completion of the transaction, the senior vice president now directly owns 69,511 shares of the company’s stock, valued at approximately $4,092,112.57. The disclosure for this sale can be found here. Insiders have sold a total of 32,516 shares of company stock valued at $1,976,970 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.
ABT has been the subject of several analyst reports. Bank of America increased their price target on shares of Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Argus increased their price target on shares of Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Guggenheim reissued a “buy” rating and issued a $72.00 price target on shares of Abbott Laboratories in a research note on Thursday, January 25th. Royal Bank of Canada reissued a “buy” rating and issued a $67.00 price target on shares of Abbott Laboratories in a research note on Thursday, January 25th. Finally, Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $68.35.
Abbott Laboratories Company Profile
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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