Sei Investments Co. cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 20.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 878,265 shares of the healthcare product maker’s stock after selling 230,661 shares during the period. Sei Investments Co.’s holdings in Abbott Laboratories were worth $76,314,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Howard Wealth Management LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $32,000. Covenant Multifamily Offices LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $34,000. Pacifica Partners Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $34,000. 1 North Wealth Services LLC acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $38,000. Finally, Marquette Asset Management LLC boosted its stake in Abbott Laboratories by 173.4% in the third quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.
Shares of NYSE ABT traded up $0.98 during midday trading on Friday, reaching $89.66. The company had a trading volume of 3,919,808 shares, compared to its average volume of 5,156,611. The business’s 50-day simple moving average is $87.84 and its 200 day simple moving average is $85.04. The stock has a market cap of $156.15 billion, a P/E ratio of 43.52, a P/E/G ratio of 2.24 and a beta of 1.13. Abbott Laboratories has a 1 year low of $72.36 and a 1 year high of $92.45. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.95. The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Abbott Laboratories had a net margin of 11.56% and a return on equity of 18.34%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. Analysts predict that Abbott Laboratories will post 3.6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 7th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.36%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
In related news, SVP Joseph J. Manning sold 37,500 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $89.58, for a total transaction of $3,359,250.00. Following the completion of the transaction, the senior vice president now owns 88,032 shares of the company’s stock, valued at $7,885,906.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 1,120 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $88.61, for a total transaction of $99,243.20. Following the transaction, the executive vice president now directly owns 40,140 shares of the company’s stock, valued at approximately $3,556,805.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,470 shares of company stock valued at $49,207,334. Corporate insiders own 0.70% of the company’s stock.
ABT has been the subject of several recent analyst reports. Evercore ISI downgraded shares of Abbott Laboratories from an “outperform” rating to an “in-line” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lowered their target price on shares of Abbott Laboratories from to in a research note on Thursday, January 23rd. Raymond James raised their target price on shares of Abbott Laboratories from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. William Blair restated an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th. Finally, Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Wednesday. They issued a “neutral” rating and a $96.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $95.60.
Abbott Laboratories Company Profile
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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