Dempze Nancy E lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 19.9% during the 4th quarter, Holdings Channel reports. The firm owned 47,516 shares of the healthcare product maker’s stock after buying an additional 7,880 shares during the quarter. Abbott Laboratories accounts for about 3.3% of Dempze Nancy E’s holdings, making the stock its 6th biggest holding. Dempze Nancy E’s holdings in Abbott Laboratories were worth $2,711,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Linscomb & Williams Inc. lifted its position in shares of Abbott Laboratories by 4.1% during the fourth quarter. Linscomb & Williams Inc. now owns 89,534 shares of the healthcare product maker’s stock worth $5,110,000 after purchasing an additional 3,519 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Abbott Laboratories by 3.6% during the fourth quarter. Gabelli Funds LLC now owns 426,400 shares of the healthcare product maker’s stock worth $24,335,000 after purchasing an additional 15,000 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in Abbott Laboratories by 6.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 14,632 shares of the healthcare product maker’s stock worth $835,000 after acquiring an additional 934 shares during the last quarter. Elefante Mark B lifted its holdings in Abbott Laboratories by 37.8% in the fourth quarter. Elefante Mark B now owns 13,526 shares of the healthcare product maker’s stock worth $772,000 after acquiring an additional 3,710 shares during the last quarter. Finally, Trust Co. of Vermont lifted its holdings in Abbott Laboratories by 1.2% in the fourth quarter. Trust Co. of Vermont now owns 184,994 shares of the healthcare product maker’s stock worth $10,558,000 after acquiring an additional 2,244 shares during the last quarter. 71.29% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Brian J. Blaser sold 27,733 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the transaction, the insider now owns 156,587 shares in the company, valued at $9,749,106.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the transaction, the insider now owns 102,117 shares in the company, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. Insiders sold 144,318 shares of company stock worth $8,596,826 in the last 90 days. 0.76% of the stock is owned by company insiders.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The company had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same quarter last year, the business earned $0.65 earnings per share. Abbott Laboratories’s revenue was up 42.3% compared to the same quarter last year. equities research analysts forecast that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.76%. Abbott Laboratories’s payout ratio is currently 430.79%.
A number of brokerages have issued reports on ABT. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Leerink Swann reissued a “market perform” rating and issued a $68.00 target price (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Bank of America raised their target price on shares of Abbott Laboratories from $60.00 to $70.00 in a report on Wednesday, January 24th. They noted that the move was a valuation call. BMO Capital Markets raised their target price on shares of Abbott Laboratories from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Evercore ISI began coverage on shares of Abbott Laboratories in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price on the stock. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $65.47.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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