Harvest Investment Services LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,059 shares of the healthcare product maker’s stock after acquiring an additional 462 shares during the quarter. Harvest Investment Services LLC’s holdings in Abbott Laboratories were worth $323,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc boosted its stake in Abbott Laboratories by 1.6% in the third quarter. Vanguard Group Inc now owns 139,012,321 shares of the healthcare product maker’s stock valued at $10,197,944,000 after acquiring an additional 2,208,781 shares in the last quarter. BKD Wealth Advisors LLC boosted its stake in Abbott Laboratories by 9.8% in the fourth quarter. BKD Wealth Advisors LLC now owns 7,572 shares of the healthcare product maker’s stock valued at $548,000 after acquiring an additional 675 shares in the last quarter. Hotaling Investment Management LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $521,000. Evanson Asset Management LLC boosted its stake in Abbott Laboratories by 36.1% in the fourth quarter. Evanson Asset Management LLC now owns 6,102 shares of the healthcare product maker’s stock valued at $441,000 after acquiring an additional 1,619 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Abbott Laboratories by 79.6% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 9,027 shares of the healthcare product maker’s stock valued at $653,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.
NYSE ABT opened at $76.03 on Wednesday. The firm has a market capitalization of $134.02 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 2.14 and a beta of 1.11. Abbott Laboratories has a 12-month low of $60.31 and a 12-month high of $80.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The business had revenue of $7.54 billion during the quarter, compared to analysts’ expectations of $7.49 billion. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.86%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.59 earnings per share. As a group, equities analysts anticipate that Abbott Laboratories will post 3.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th were issued a $0.32 dividend. The ex-dividend date was Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.68%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
In related news, SVP Jaime Contreras sold 82,732 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $70.00, for a total transaction of $5,791,240.00. Following the completion of the transaction, the senior vice president now owns 80,722 shares of the company’s stock, valued at $5,650,540. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian B. Yoor sold 2,246 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $78.00, for a total transaction of $175,188.00. Following the transaction, the chief financial officer now directly owns 116,627 shares of the company’s stock, valued at approximately $9,096,906. The disclosure for this sale can be found here. In the last three months, insiders have sold 551,643 shares of company stock valued at $42,471,501. 0.70% of the stock is currently owned by corporate insiders.
ABT has been the subject of several recent analyst reports. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, January 24th. Argus raised their target price on shares of Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a research note on Friday, January 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Monday, January 28th. Bank of America restated a “buy” rating and issued a $81.00 target price (up from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. Finally, Barclays set a $84.00 target price on shares of Abbott Laboratories and gave the company a “buy” rating in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $80.30.
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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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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