Abner Herrman & Brock LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 229,896 shares of the healthcare product maker’s stock after acquiring an additional 6,738 shares during the period. Abbott Laboratories makes up 3.0% of Abner Herrman & Brock LLC’s holdings, making the stock its 9th largest position. Abner Herrman & Brock LLC’s holdings in Abbott Laboratories were worth $16,628,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Csenge Advisory Group bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $31,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $103,000. Atlantic Trust LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $104,000. Security National Bank of SO Dak increased its position in shares of Abbott Laboratories by 72.0% in the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock valued at $128,000 after buying an additional 878 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV increased its position in shares of Abbott Laboratories by 1,069.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 4,374 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 72.75% of the company’s stock.
In related news, insider Jared Watkin sold 65,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $71.00, for a total value of $4,615,000.00. Following the completion of the sale, the insider now directly owns 128,640 shares in the company, valued at approximately $9,133,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Miles D. White sold 142,341 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the completion of the sale, the chairman now owns 3,459,185 shares of the company’s stock, valued at $250,272,034.75. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.
ABT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Tuesday, September 18th. Citigroup lowered shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $72.00 to $68.00 in a research note on Wednesday, January 2nd. Morgan Stanley upped their target price on shares of Abbott Laboratories from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 2nd. Barclays initiated coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They issued an “overweight” rating and a $80.00 target price for the company. Finally, Goldman Sachs Group raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $74.10 target price for the company in a research note on Sunday, December 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $76.86.
Shares of Abbott Laboratories stock traded down $0.41 during trading hours on Friday, reaching $68.67. 168,455 shares of the company’s stock were exchanged, compared to its average volume of 7,140,442. Abbott Laboratories has a fifty-two week low of $55.58 and a fifty-two week high of $74.92. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13. The company has a market cap of $121.96 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.24.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business posted $0.66 EPS. Abbott Laboratories’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 2.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be paid a $0.32 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, January 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.
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About Abbott Laboratories
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, Cardiovascular and Neuromodulation Products, and Other.
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