Ropes Wealth Advisors LLC lowered its position in Abbott Laboratories (NYSE:ABT – Get Rating) by 32.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 29,262 shares of the healthcare product maker’s stock after selling 13,967 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $4,118,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of ABT. Camden National Bank lifted its stake in shares of Abbott Laboratories by 1.5% during the fourth quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock worth $844,000 after purchasing an additional 114 shares in the last quarter. Morgan Stanley lifted its stake in shares of Abbott Laboratories by 4.5% during the second quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock worth $3,311,209,000 after purchasing an additional 1,233,152 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Abbott Laboratories by 3.3% during the third quarter. Venturi Wealth Management LLC now owns 15,298 shares of the healthcare product maker’s stock worth $1,807,000 after purchasing an additional 486 shares in the last quarter. Center for Financial Planning Inc. lifted its stake in shares of Abbott Laboratories by 3.1% during the third quarter. Center for Financial Planning Inc. now owns 15,430 shares of the healthcare product maker’s stock worth $1,823,000 after purchasing an additional 471 shares in the last quarter. Finally, New World Advisors LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth about $477,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.
A number of brokerages have commented on ABT. UBS Group boosted their price objective on Abbott Laboratories from $138.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, January 27th. Credit Suisse Group lifted their target price on Abbott Laboratories from $138.00 to $139.00 and gave the stock an “outperform” rating in a research report on Thursday, January 27th. Morgan Stanley dropped their target price on Abbott Laboratories from $157.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, January 27th. Raymond James dropped their target price on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Finally, Wells Fargo & Company dropped their target price on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $138.83.
Abbott Laboratories (NYSE:ABT – Get Rating) last posted its earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 EPS for the quarter, beating the consensus estimate of $1.47 by $0.26. The company had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11 billion. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 earnings per share. On average, analysts forecast that Abbott Laboratories will post 4.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, April 13th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 43.62%.
In other Abbott Laboratories news, SVP Julie L. Tyler sold 462 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $119.29, for a total value of $55,111.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mary K. Moreland sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $119.31, for a total value of $47,724.00. The disclosure for this sale can be found here. Insiders have sold 81,896 shares of company stock valued at $9,299,454 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.
Abbott Laboratories Company Profile (Get Rating)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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