Nachman Norwood & Parrott Inc bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 35,435 shares of the healthcare product maker’s stock, valued at approximately $2,563,000.
Other hedge funds also recently made changes to their positions in the company. Joel Isaacson & Co. LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $239,000. Stewart & Patten Co. LLC increased its holdings in Abbott Laboratories by 0.5% during the fourth quarter. Stewart & Patten Co. LLC now owns 278,050 shares of the healthcare product maker’s stock worth $20,111,000 after buying an additional 1,321 shares during the last quarter. Appleton Partners Inc. MA increased its holdings in Abbott Laboratories by 2.9% during the fourth quarter. Appleton Partners Inc. MA now owns 20,475 shares of the healthcare product maker’s stock worth $1,481,000 after buying an additional 578 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Abbott Laboratories by 3.2% during the fourth quarter. Quadrant Capital Group LLC now owns 15,491 shares of the healthcare product maker’s stock worth $1,103,000 after buying an additional 485 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC increased its holdings in Abbott Laboratories by 1,174.7% during the fourth quarter. MinichMacGregor Wealth Management LLC now owns 29,534 shares of the healthcare product maker’s stock worth $1,576,000 after buying an additional 27,217 shares during the last quarter. Hedge funds and other institutional investors own 74.36% of the company’s stock.
A number of equities analysts recently weighed in on ABT shares. Bank of America restated a “buy” rating and set a $81.00 target price (up from $73.00) on shares of Abbott Laboratories in a report on Thursday, February 7th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Monday, January 28th. Goldman Sachs Group raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $78.00 to $81.00 in a research report on Friday, November 30th. UBS Group assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, November 27th. They issued a “buy” rating and a $83.00 target price for the company. Finally, Gabelli reissued a “buy” rating on shares of Abbott Laboratories in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $79.48.
In other Abbott Laboratories news, Director John G. Stratton purchased 3,455 shares of Abbott Laboratories stock in a transaction dated Thursday, January 31st. The shares were purchased at an average cost of $72.32 per share, for a total transaction of $249,865.60. Following the completion of the acquisition, the director now owns 3,558 shares in the company, valued at approximately $257,314.56. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jaime Contreras sold 177,457 shares of the stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total value of $12,421,990.00. Following the completion of the sale, the insider now owns 100,985 shares in the company, valued at $7,068,950. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.
NYSE ABT traded up $1.28 during trading hours on Friday, hitting $75.25. The company had a trading volume of 8,083,139 shares, compared to its average volume of 6,910,995. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a 52 week low of $56.81 and a 52 week high of $75.40. The company has a market cap of $132.16 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.98 and a beta of 1.14.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Abbott Laboratories had a return on equity of 16.50% and a net margin of 7.74%. Abbott Laboratories’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post 3.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.70%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, January 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
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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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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