SevenBridge Financial Group LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 112.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,461 shares of the healthcare product maker’s stock after acquiring an additional 18,241 shares during the quarter. Abbott Laboratories makes up 1.5% of SevenBridge Financial Group LLC’s holdings, making the stock its 19th biggest holding. SevenBridge Financial Group LLC’s holdings in Abbott Laboratories were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Kiwi Wealth Investments Limited Partnership raised its position in shares of Abbott Laboratories by 21.5% during the fourth quarter. Kiwi Wealth Investments Limited Partnership now owns 178,274 shares of the healthcare product maker’s stock worth $12,895,000 after acquiring an additional 31,570 shares during the last quarter. Financial Advisors LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth about $338,000. Genesee Capital Advisors LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth about $1,908,000. ERTS Wealth Advisors LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth about $58,000. Finally, Drexel Morgan & Co. raised its position in shares of Abbott Laboratories by 3.8% during the fourth quarter. Drexel Morgan & Co. now owns 27,243 shares of the healthcare product maker’s stock worth $1,971,000 after acquiring an additional 1,001 shares during the last quarter. Institutional investors own 75.16% of the company’s stock.
ABT has been the subject of a number of research analyst reports. Citigroup downgraded Abbott Laboratories from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $72.00 to $68.00 in a report on Wednesday, January 2nd. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Bank of America reiterated a “buy” rating and issued a $81.00 target price (up from $73.00) on shares of Abbott Laboratories in a report on Thursday, February 7th. Wells Fargo & Co reiterated a “buy” rating on shares of Abbott Laboratories in a report on Thursday, March 14th. Finally, Morgan Stanley lifted their target price on Abbott Laboratories from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $80.18.
Shares of ABT stock opened at $78.01 on Monday. The company has a market capitalization of $137.90 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Abbott Laboratories has a fifty-two week low of $56.81 and a fifty-two week high of $80.74.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 3.2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.32 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.64%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
In other Abbott Laboratories news, insider Joseph J. Manning sold 1,223 shares of the firm’s stock in a transaction that occurred on 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 owns 61,324 shares of the company’s stock, valued at $4,783,272. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph J. Manning sold 5,613 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $79.58, for a total value of $446,682.54. Following the completion of 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. Insiders sold 280,021 shares of company stock valued at $20,485,856 in the last three months. Insiders own 0.70% of the company’s stock.
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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