Miramar Capital LLC Takes $378,000 Position in Abbott Laboratories (ABT)

Miramar Capital LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,042 shares of the healthcare product maker’s stock, valued at approximately $378,000.

A number of other hedge funds have also recently modified their holdings of the stock. Csenge Advisory Group purchased a new position in Abbott Laboratories during the third quarter worth $31,000. 1 North Wealth Services LLC purchased a new position in Abbott Laboratories during the fourth quarter worth $33,000. Brand Asset Management Group Inc. grew its position in shares of 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 period. Exane Derivatives purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at $42,000. Finally, Hirtle Callaghan & Co LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at $47,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

In other Abbott Laboratories news, insider Sharon J. Bracken sold 5,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $77.83, for a total transaction of $428,065.00. Following the completion of the sale, the insider now owns 50,019 shares of the company’s stock, valued at $3,892,978.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph J. Manning sold 5,613 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $79.58, for a total value of $446,682.54. Following the sale, the insider now directly owns 56,029 shares of the company’s stock, valued at approximately $4,458,787.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 280,021 shares of company stock valued at $20,485,856. 0.70% of the stock is owned by company insiders.

ABT stock opened at $73.92 on Friday. Abbott Laboratories has a 12-month low of $56.81 and a 12-month 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 cap of $129.84 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.96 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 3.21 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

ABT has been the subject of a number of recent analyst reports. Citigroup downgraded Abbott Laboratories from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $72.00 to $68.00 in a research report on Wednesday, January 2nd. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Bank of America reaffirmed a “buy” rating and issued a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. Finally, Morgan Stanley lifted their price objective on Abbott Laboratories from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $80.48.

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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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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