Artemis Investment Management LLP acquired a new stake in shares of Abbott Laboratories (NYSE:ABT – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 112,325 shares of the healthcare product maker’s stock, valued at approximately $15,801,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jackson Wealth Management LLC grew its holdings in Abbott Laboratories by 2.1% during the third quarter. Jackson Wealth Management LLC now owns 34,368 shares of the healthcare product maker’s stock worth $25,000 after buying an additional 722 shares in the last quarter. Blue Bell Private Wealth Management LLC bought a new stake in Abbott Laboratories during the fourth quarter worth $30,000. Consolidated Planning Corp bought a new stake in Abbott Laboratories during the third quarter worth $36,000. Strategic Asset Management LLC purchased a new position in Abbott Laboratories in the third quarter worth $41,000. Finally, Altshuler Shaham Ltd purchased a new position in Abbott Laboratories in the third quarter worth $46,000. Hedge funds and other institutional investors own 73.01% of the company’s stock.
Several research firms have weighed in on ABT. UBS Group boosted their price objective on Abbott Laboratories from $138.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, January 27th. Bank of America started coverage on Abbott Laboratories in a research report on Tuesday, March 1st. They set a “buy” rating and a $140.00 price target on the stock. Cowen upped their price target on Abbott Laboratories from $140.00 to $150.00 in a research report on Monday, January 10th. Royal Bank of Canada dropped their price target on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Finally, Morgan Stanley dropped their price target on Abbott Laboratories from $157.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, January 27th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Buy” and an average target price of $138.83.
Abbott Laboratories (NYSE:ABT – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.87% and a net margin of 17.35%. The firm had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11 billion. During the same quarter last year, the firm posted $1.32 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be issued a $0.47 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.66%. Abbott Laboratories’s payout ratio is currently 43.62%.
In related news, SVP Randel William Woodgrift sold 964 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $118.10, for a total transaction of $113,848.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mary K. Moreland sold 400 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $119.31, for a total value of $47,724.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,896 shares of company stock worth $926,454. Insiders own 0.52% of the company’s stock.
Abbott Laboratories Company Profile (Get Rating)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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