North Star Asset Management Inc. raised its position in Abbott Laboratories (NYSE:ABT) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,415 shares of the healthcare product maker’s stock after acquiring an additional 20,381 shares during the period. Abbott Laboratories makes up approximately 1.4% of North Star Asset Management Inc.’s holdings, making the stock its 15th biggest holding. North Star Asset Management Inc.’s holdings in Abbott Laboratories were worth $15,775,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Abbott Laboratories by 45.7% in the 2nd 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. Northern Trust Corp lifted its holdings in shares of Abbott Laboratories by 3.1% in the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after acquiring an additional 809,732 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Abbott Laboratories by 28.6% in the 2nd 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, Alliancebernstein L.P. lifted its holdings in shares of Abbott Laboratories by 7.7% in the 2nd quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after acquiring an additional 830,610 shares during the last quarter. Institutional investors and hedge funds own 72.46% of the company’s stock.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 56,401 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.61, for a total value of $3,362,063.61. Following the completion of the sale, the insider now directly owns 184,884 shares of the company’s stock, valued at approximately $11,020,935.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Starks acquired 40,037 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average price of $60.67 per share, for a total transaction of $2,429,044.79. Following the acquisition, the director now owns 6,943,348 shares in the company, valued at approximately $421,252,923.16. The disclosure for this purchase can be found here. Insiders sold 152,580 shares of company stock valued at $9,115,267 in the last ninety days. Corporate insiders own 0.76% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Leerink Swann reaffirmed a “market perform” rating and set a $68.00 target price (up from $60.00) on shares of Abbott Laboratories in a research note on Thursday, January 25th. Bank of America increased their target price on shares of Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. BMO Capital Markets increased their target price on shares of Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. ValuEngine upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Evercore ISI assumed coverage on shares of Abbott Laboratories in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $65.47.
Shares of Abbott Laboratories (ABT) traded down $0.34 during trading hours on Wednesday, hitting $62.86. 3,414,611 shares of the company were exchanged, compared to its average volume of 7,391,017. 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 fifty-two week low of $42.31 and a fifty-two week high of $64.60. The company has a market capitalization of $110,090.00, a price-to-earnings ratio of 60.45, a PEG ratio of 1.91 and a beta of 1.52.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share 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 firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.78%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s payout ratio is currently 107.69%.
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Abbott Laboratories 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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