Norinchukin Bank The lessened its holdings in Abbott Laboratories (NYSE:ABT – Get Rating) by 0.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,147 shares of the healthcare product maker’s stock after selling 1,330 shares during the period. Norinchukin Bank The’s holdings in Abbott Laboratories were worth $21,132,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Old West Investment Management LLC grew its holdings in Abbott Laboratories by 2.5% during the 4th quarter. Old West Investment Management LLC now owns 9,940 shares of the healthcare product maker’s stock valued at $1,398,000 after buying an additional 245 shares in the last quarter. Pittenger & Anderson Inc. raised its holdings in shares of Abbott Laboratories by 4.3% in the fourth quarter. Pittenger & Anderson Inc. now owns 72,592 shares of the healthcare product maker’s stock valued at $10,217,000 after acquiring an additional 2,966 shares in the last quarter. CFO4Life Group LLC grew its stake in Abbott Laboratories by 11.8% in the fourth quarter. CFO4Life Group LLC now owns 2,528 shares of the healthcare product maker’s stock valued at $356,000 after purchasing an additional 266 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $110,000. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 5.2% during the fourth quarter. Rafferty Asset Management LLC now owns 59,435 shares of the healthcare product maker’s stock worth $8,365,000 after purchasing an additional 2,911 shares during the period. 73.46% of the stock is owned by institutional investors.
Several analysts recently commented on the company. Wells Fargo & Company dropped their price target on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Bank of America began coverage on Abbott Laboratories in a report on Tuesday, March 1st. They issued a “buy” rating and a $140.00 price objective on the stock. Morgan Stanley lowered their target price on Abbott Laboratories from $157.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, January 27th. UBS Group lifted their price objective on Abbott Laboratories from $138.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, January 27th. Finally, Royal Bank of Canada lowered their price objective on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Buy” and an average price target of $138.83.
Abbott Laboratories (NYSE:ABT – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a net margin of 17.35% and a return on equity of 28.72%. The business had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11 billion. During the same period last year, the company posted $1.32 EPS. The company’s revenue was up 13.8% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 4.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, April 13th. Abbott Laboratories’s dividend payout ratio (DPR) is 43.62%.
In other Abbott Laboratories news, SVP Randel William Woodgrift sold 24,000 shares of Abbott Laboratories stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $113.00, for a total value of $2,712,000.00. Following the completion of the sale, the senior vice president now owns 47,854 shares in the company, valued at approximately $5,407,502. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $113.22, for a total transaction of $5,661,000.00. Following the sale, the director now directly owns 6,973,500 shares in the company, valued at $789,539,670. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,896 shares of company stock valued at $9,299,454. Company 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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