Gradient Investments LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,837 shares of the healthcare product maker’s stock after buying an additional 2,841 shares during the period. Gradient Investments LLC’s holdings in Abbott Laboratories were worth $2,157,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Nuveen Asset Management LLC boosted its holdings in Abbott Laboratories by 7,888.6% during the second quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock worth $1,040,985,000 after buying an additional 12,222,999 shares during the last quarter. BlackRock Inc. boosted its holdings in Abbott Laboratories by 1.8% during the second quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock worth $10,640,833,000 after buying an additional 2,199,601 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Abbott Laboratories during the second quarter worth about $158,475,000. California Public Employees Retirement System boosted its holdings in Abbott Laboratories by 26.0% during the third quarter. California Public Employees Retirement System now owns 3,977,787 shares of the healthcare product maker’s stock worth $332,821,000 after buying an additional 821,189 shares during the last quarter. Finally, Voleon Capital Management LP bought a new position in Abbott Laboratories during the second quarter worth about $54,329,000. Hedge funds and other institutional investors own 73.59% of the company’s stock.
A number of equities analysts have issued reports on the company. William Blair restated an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Morgan Stanley raised their target price on Abbott Laboratories from $93.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI cut Abbott Laboratories from an “outperform” rating to an “in-line” rating in a report on Thursday, January 2nd. Raymond James reduced their target price on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Finally, Citigroup cut Abbott Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $91.42.
NYSE ABT opened at $87.38 on Thursday. The firm has a market cap of $151.63 billion, a P/E ratio of 30.34, a P/E/G ratio of 2.20 and a beta of 1.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.12. The stock’s 50-day moving average is $86.11 and its 200-day moving average is $84.56. Abbott Laboratories has a one year low of $68.80 and a one year high of $89.24.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.84. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. Abbott Laboratories’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. Equities analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio (DPR) is currently 50.00%.
In other news, SVP Randel William Woodgrift sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the sale, the senior vice president now owns 68,562 shares of the company’s stock, valued at $5,521,983.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.
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 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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