Edmond DE Rothschild Holding S.A. raised its position in shares of Abbott Laboratories (NYSE:ABT) by 26.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 206,435 shares of the healthcare product maker’s stock after acquiring an additional 43,704 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Abbott Laboratories were worth $14,932,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. PRW Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $142,000. SevenBridge Financial Group LLC boosted its stake in shares of Abbott Laboratories by 112.5% during the fourth quarter. SevenBridge Financial Group LLC now owns 34,461 shares of the healthcare product maker’s stock valued at $2,493,000 after purchasing an additional 18,241 shares during the period. Kiwi Wealth Investments Limited Partnership boosted its stake in shares of Abbott Laboratories by 21.5% during the fourth quarter. Kiwi Wealth Investments Limited Partnership now owns 178,274 shares of the healthcare product maker’s stock valued at $12,895,000 after purchasing an additional 31,570 shares during the period. Financial Advisors LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $338,000. Finally, Genesee Capital Advisors LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $1,908,000. Institutional investors and hedge funds own 75.17% of the company’s stock.
A number of brokerages have recently issued reports on ABT. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, March 19th. Royal Bank of Canada boosted their target price on shares of Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research note on Monday. They noted that the move was a valuation call. Credit Suisse Group began coverage on shares of Abbott Laboratories in a research note on Monday, December 17th. They set an “outperform” rating and a $82.00 target price for the company. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Finally, Barclays set a $84.00 target price on shares of Abbott Laboratories and gave the company a “buy” rating in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $80.48.
In related news, insider Jaime Contreras sold 177,457 shares of the company’s stock in a transaction dated Wednesday, January 30th. The shares were 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 directly owns 100,985 shares of the company’s stock, valued at $7,068,950. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jared Watkin sold 1,391 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $78.00, for a total transaction of $108,498.00. Following the sale, the senior vice president now directly owns 75,926 shares of the company’s stock, valued at $5,922,228. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,021 shares of company stock valued at $20,485,856. 0.70% of the stock is owned by insiders.
NYSE:ABT opened at $77.50 on Tuesday. Abbott Laboratories has a 1-year low of $56.81 and a 1-year high of $80.74. The stock has a market capitalization of $137.02 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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