Bank of The Ozarks raised its position in shares of Abbott Laboratories (NYSE:ABT) by 65.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,637 shares of the healthcare product maker’s stock after buying an additional 10,970 shares during the quarter. Bank of The Ozarks’ holdings in Abbott Laboratories were worth $1,577,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABT. IFG Advisory LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $2,824,000. Rowland & Co. Investment Counsel ADV acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $102,000. Tributary Capital Management LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at approximately $106,000. Heritage Trust Co increased its position in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after acquiring an additional 200 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $133,000. Hedge funds and other institutional investors own 72.46% of the company’s stock.
ABT has been the topic of several analyst reports. ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BTIG Research cut Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Barclays restated a “buy” rating and issued a $66.00 target price on shares of Abbott Laboratories in a research report on Monday, January 8th. Leerink Swann restated a “market perform” rating and issued a $68.00 target price (up from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Finally, Morgan Stanley raised their target price on Abbott Laboratories from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.47.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. equities research analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s payout ratio is currently 107.69%.
In other news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the completion of the sale, the insider now directly owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jared Watkin sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $61.19, for a total value of $183,570.00. Following the sale, the insider now directly owns 68,215 shares of the company’s stock, valued at $4,174,075.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,318 shares of company stock valued at $8,596,826. 0.76% of the stock is currently owned by corporate insiders.
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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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