Buckley Wealth Management LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,916 shares of the healthcare product maker’s stock, valued at approximately $338,000.
A number of other hedge funds have also recently modified their holdings of ABT. Capital Research Global Investors grew its stake in shares of Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after acquiring an additional 14,918,038 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Abbott Laboratories by 3,373.9% in the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock worth $382,779,000 after acquiring an additional 7,647,798 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after acquiring an additional 3,241,063 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Abbott Laboratories by 28.6% in the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after acquiring an additional 2,606,404 shares during the last quarter. Finally, Harding Loevner LP grew its stake in shares of Abbott Laboratories by 73.5% in the third quarter. Harding Loevner LP now owns 4,171,941 shares of the healthcare product maker’s stock worth $125,189,000 after acquiring an additional 1,767,384 shares during the last quarter. 72.35% of the stock is currently owned by institutional investors.
In other Abbott Laboratories news, 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 value of $836,588.92. Following the transaction, the executive vice president now owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jared Watkin sold 996 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $58.87, for a total value of $58,634.52. Following the completion of the transaction, the senior vice president now directly owns 69,511 shares in the company, valued at approximately $4,092,112.57. The disclosure for this sale can be found here. In the last three months, insiders sold 124,261 shares of company stock worth $7,559,987. 0.76% of the stock is owned by corporate insiders.
Shares of Abbott Laboratories (NYSE:ABT) opened at $62.26 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87. Abbott Laboratories has a 12-month low of $42.31 and a 12-month high of $64.60. The company has a market capitalization of $110,333.38, a price-to-earnings ratio of 25.27, a P/E/G ratio of 1.87 and a beta of 1.52.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. During the same period last year, the firm posted $0.65 earnings per share. Abbott Laboratories’s revenue was up 42.3% compared to the same quarter last year. research analysts predict that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is 430.79%.
ABT has been the topic of a number of recent research reports. Bank of America increased their target price on Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. 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. Barclays reissued a “buy” rating and issued a $66.00 target price on shares of Abbott Laboratories in a research note on Monday, January 8th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Tuesday, January 2nd. Finally, ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $65.47.
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Abbott Laboratories Company 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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