Palladium Partners LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,114 shares of the healthcare product maker’s stock after acquiring an additional 1,045 shares during the period. Palladium Partners LLC’s holdings in Abbott Laboratories were worth $3,146,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares during the period. Capital Research Global Investors boosted its position in shares of Abbott Laboratories by 45.7% in the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after purchasing an additional 14,918,038 shares during the period. Northern Trust Corp boosted its position in shares of Abbott Laboratories by 3.1% in the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after purchasing an additional 809,732 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Abbott Laboratories by 28.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after purchasing an additional 2,606,404 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Abbott Laboratories by 7.7% in the 2nd quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock valued at $564,222,000 after purchasing an additional 830,610 shares during the period. 72.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. Leerink Swann reiterated a “market perform” rating and issued a $68.00 price target (up previously from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Bank of America increased their price target on Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Evercore ISI assumed coverage on Abbott Laboratories in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $65.47.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same period last year, the company posted $0.65 EPS. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. equities analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.28 per share. 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 dividend payout ratio is 430.79%.
In other news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of Abbott Laboratories stock in a transaction dated 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 in the company, valued at approximately $5,608,265.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian J. Blaser sold 27,733 shares of Abbott Laboratories stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total value of $1,726,656.58. Following the sale, the insider now owns 156,587 shares of the company’s stock, valued at $9,749,106.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,318 shares of company stock valued at $8,596,826. 0.76% of the stock is 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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