OLD National Bancorp IN lessened its position in Abbott Laboratories (NYSE:ABT) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 248,556 shares of the healthcare product maker’s stock after selling 12,238 shares during the period. OLD National Bancorp IN’s holdings in Abbott Laboratories were worth $14,185,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $102,000. Heritage Trust Co boosted its holdings in Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares during the last quarter. Tributary Capital Management LLC acquired a new position in Abbott Laboratories during the third quarter worth $106,000. Thompson Davis & CO. Inc. boosted its holdings in Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after purchasing an additional 370 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $133,000. 72.35% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on ABT shares. ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BTIG Research cut shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Barclays restated a “buy” rating and set a $66.00 target price on shares of Abbott Laboratories in a report on Monday, January 8th. Leerink Swann restated a “market perform” rating and set a $68.00 target price (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Morgan Stanley increased their target price on shares of Abbott Laboratories from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $65.47.
In other news, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total value of $1,726,656.58. Following the transaction, the insider now directly owns 156,587 shares of the company’s stock, valued at $9,749,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen R. Fussell sold 13,313 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the transaction, the executive vice president now directly owns 152,343 shares in the company, valued at $9,573,234.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,261 shares of company stock valued at $7,559,987. Corporate insiders own 0.76% of the company’s stock.
Shares of Abbott Laboratories stock opened at $63.18 on Monday. The company has a market cap of $110,333.38, a price-to-earnings ratio of 243.01, a price-to-earnings-growth ratio of 1.87 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86. Abbott Laboratories has a 12 month low of $42.31 and a 12 month high of $64.60.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. equities research analysts expect that Abbott Laboratories will post 2.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 430.79%.
About Abbott Laboratories
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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