IHT Wealth Management LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 796.2% during the 4th quarter, HoldingsChannel reports. The fund owned 107,908 shares of the healthcare product maker’s stock after acquiring an additional 95,867 shares during the period. Abbott Laboratories comprises about 1.5% of IHT Wealth Management LLC’s portfolio, making the stock its 4th biggest position. IHT Wealth Management LLC’s holdings in Abbott Laboratories were worth $7,805,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Csenge Advisory Group acquired a new position in Abbott Laboratories in the third quarter valued at $31,000. 1 North Wealth Services LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at $33,000. Brand Asset Management Group Inc. increased its stake in Abbott Laboratories by 66.7% in the fourth quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Exane Derivatives acquired a new stake in Abbott Laboratories during the fourth quarter worth about $42,000. Finally, Hirtle Callaghan & Co LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 75.17% of the company’s stock.
In related news, Director John G. Stratton bought 3,455 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was bought at an average price of $72.32 per share, with a total value of $249,865.60. Following the completion of the transaction, the director now directly owns 3,558 shares of the company’s stock, valued at $257,314.56. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph J. Manning sold 1,223 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $95,394.00. Following the completion of the sale, the insider now directly owns 61,324 shares of the company’s stock, valued at approximately $4,783,272. The disclosure for this sale can be found here. Insiders sold 280,021 shares of company stock valued at $20,485,856 in the last ninety days. Company insiders own 0.70% of the company’s stock.
Shares of NYSE ABT opened at $73.92 on Friday. Abbott Laboratories has a 1-year low of $56.81 and a 1-year high of $80.74. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $129.84 billion, a PE ratio of 25.32, a P/E/G ratio of 1.96 and a beta of 1.13.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.91% and a net margin of 8.53%. The company had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 3.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 44.44%.
Several brokerages have commented on ABT. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday. Royal Bank of Canada upped their price target on Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Tuesday, March 19th. Wells Fargo & Co restated a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Finally, Barclays set a $84.00 price target on Abbott Laboratories and gave the stock a “buy” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $80.48.
About Abbott Laboratories
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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