Capital International Sarl boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 105.3% during the 4th quarter, Holdings Channel reports. The firm owned 58,304 shares of the healthcare product maker’s stock after buying an additional 29,904 shares during the period. Capital International Sarl’s holdings in Abbott Laboratories were worth $5,064,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cetera Advisor Networks LLC increased its stake in Abbott Laboratories by 12.3% in the 4th quarter. Cetera Advisor Networks LLC now owns 40,256 shares of the healthcare product maker’s stock worth $3,491,000 after acquiring an additional 4,411 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Abbott Laboratories by 4.5% during the 4th quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock valued at $1,222,326,000 after acquiring an additional 610,015 shares during the period. Cetera Investment Advisers boosted its holdings in Abbott Laboratories by 1.0% during the 4th quarter. Cetera Investment Advisers now owns 20,124 shares of the healthcare product maker’s stock valued at $1,747,000 after acquiring an additional 208 shares during the period. Aviance Capital Partners LLC boosted its holdings in Abbott Laboratories by 1.6% during the 4th quarter. Aviance Capital Partners LLC now owns 8,475 shares of the healthcare product maker’s stock valued at $736,000 after acquiring an additional 130 shares during the period. Finally, NorthRock Partners LLC boosted its holdings in Abbott Laboratories by 190.3% during the 4th quarter. NorthRock Partners LLC now owns 37,540 shares of the healthcare product maker’s stock valued at $1,005,000 after acquiring an additional 24,609 shares during the period. 75.02% of the stock is currently owned by institutional investors.
ABT has been the subject of a number of recent analyst reports. Citigroup initiated coverage on Abbott Laboratories in a report on Wednesday, March 4th. They set a “buy” rating and a $96.00 price objective for the company. Raymond James boosted their price objective on Abbott Laboratories from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Morgan Stanley boosted their price objective on Abbott Laboratories from $93.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group boosted their price objective on Abbott Laboratories from $99.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Stifel Nicolaus boosted their price objective on Abbott Laboratories from $95.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $96.13.
Shares of ABT stock traded up $4.23 during mid-day trading on Thursday, hitting $74.98. The stock had a trading volume of 3,485,867 shares, compared to its average volume of 12,224,732. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $92.45. The firm has a market capitalization of $122.89 billion, a P/E ratio of 36.40, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. The firm’s 50-day moving average is $81.95 and its two-hundred day moving average is $84.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.44 and a quick ratio of 1.04.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. Abbott Laboratories had a return on equity of 18.39% and a net margin of 11.56%. The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the prior year, the business earned $0.81 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 3.6 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.92%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, April 14th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
In other news, SVP Michael D. Dale sold 396 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $88.97, for a total value of $35,232.12. Following the completion of the transaction, the senior vice president now directly owns 24,343 shares of the company’s stock, valued at approximately $2,165,796.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Joseph J. Manning sold 37,500 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $89.58, for a total value of $3,359,250.00. Following the completion of the transaction, the senior vice president now directly owns 88,032 shares of the company’s stock, valued at $7,885,906.56. The disclosure for this sale can be found here. Insiders sold a total of 568,733 shares of company stock valued at $50,878,762 over the last quarter. Company insiders own 1.70% of the company’s stock.
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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