Starfire Investment Advisers Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 28.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,989 shares of the healthcare product maker’s stock after purchasing an additional 1,310 shares during the period. Starfire Investment Advisers Inc.’s holdings in Abbott Laboratories were worth $342,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of ABT. Washington Capital Management Inc. increased its position in shares of Abbott Laboratories by 4.5% during the second quarter. Washington Capital Management Inc. now owns 18,720 shares of the healthcare product maker’s stock worth $910,000 after purchasing an additional 800 shares in the last quarter. Kanawha Capital Management LLC increased its position in Abbott Laboratories by 0.9% in the 2nd quarter. Kanawha Capital Management LLC now owns 170,970 shares of the healthcare product maker’s stock valued at $8,311,000 after acquiring an additional 1,523 shares during the period. Sei Investments Co. increased its position in Abbott Laboratories by 2.3% in the 2nd quarter. Sei Investments Co. now owns 539,622 shares of the healthcare product maker’s stock valued at $26,231,000 after acquiring an additional 12,207 shares during the period. YHB Investment Advisors Inc. increased its position in Abbott Laboratories by 0.9% in the 2nd quarter. YHB Investment Advisors Inc. now owns 34,432 shares of the healthcare product maker’s stock valued at $1,674,000 after acquiring an additional 300 shares during the period. Finally, United Bank increased its position in Abbott Laboratories by 10.8% in the 2nd quarter. United Bank now owns 29,366 shares of the healthcare product maker’s stock valued at $1,427,000 after acquiring an additional 2,871 shares during the period. Institutional investors and hedge funds own 70.61% of the company’s stock.
Several brokerages recently issued reports on ABT. Barclays boosted their price target on Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Guggenheim restated a “buy” rating and issued a $72.00 price target on shares of Abbott Laboratories in a research report on Thursday, January 25th. Royal Bank of Canada restated a “buy” rating and issued a $67.00 price target on shares of Abbott Laboratories in a research report on Thursday, January 25th. Leerink Swann restated a “market perform” rating and issued a $68.00 price target (up previously from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Finally, Citigroup boosted their price target on Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.47.
Shares of Abbott Laboratories (NYSE:ABT) opened at $57.17 on Monday. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60. The firm has a market capitalization of $99,510.16, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. equities research analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is currently 430.79%.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Blaser sold 23,866 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.55, for a total value of $1,325,756.30. Following the sale, the insider now directly owns 146,387 shares in the company, valued at approximately $8,131,797.85. The disclosure for this sale can be found here. Insiders sold a total of 445,615 shares of company stock worth $24,666,341 in the last ninety days. 0.76% of the stock is owned by corporate insiders.
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Abbott Laboratories Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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