Kovack Advisors Inc. acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,175 shares of the healthcare product maker’s stock, valued at approximately $581,000.
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.
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 price objective 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%.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 56,401 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the sale, the insider now owns 184,884 shares in the company, valued at approximately $11,020,935.24. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.
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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