Swiss National Bank decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,606,088 shares of the healthcare product maker’s stock after selling 218,800 shares during the quarter. Swiss National Bank owned about 0.38% of Abbott Laboratories worth $377,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of ABT. IFG Advisory LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $2,824,000. Rowland & Co. Investment Counsel ADV bought a new position in shares of Abbott Laboratories in the fourth quarter worth $102,000. Tributary Capital Management LLC bought a new position in shares of Abbott Laboratories in the third quarter worth $106,000. Heritage Trust Co increased its stake in Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after acquiring an additional 200 shares during the last quarter. Finally, Cerebellum GP LLC bought a new position in Abbott Laboratories in the fourth quarter valued at $133,000. 72.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Abbott Laboratories (NYSE:ABT) opened at $63.18 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60. The stock has a market cap of $110,333.38, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.87 and a beta of 1.52.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The business had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue was up 42.3% on a year-over-year basis. equities research analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, April 12th. This represents a $1.12 annualized dividend and a yield of 1.77%. Abbott Laboratories’s payout ratio is 430.79%.
ABT has been the topic of a number of research analyst reports. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Evercore ISI initiated coverage on Abbott Laboratories in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price on the stock. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Finally, BTIG Research cut Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $65.47.
In other news, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the completion of the sale, the insider now directly owns 156,587 shares in the company, valued at $9,749,106.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephen R. Fussell sold 13,313 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the sale, the executive vice president now owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,261 shares of company stock valued at $7,559,987. Company insiders own 0.76% of the company’s stock.
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About Abbott Laboratories
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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