Global X Management Co. LLC Has $810,000 Stake in Abbott Laboratories (ABT)

Global X Management Co. LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 110.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,198 shares of the healthcare product maker’s stock after buying an additional 7,462 shares during the quarter. Global X Management Co. LLC’s holdings in Abbott Laboratories were worth $810,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ABT. Rowland & Co. Investment Counsel ADV acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $102,000. Heritage Trust Co grew its holdings in Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares during the period. Tributary Capital Management LLC acquired a new position in Abbott Laboratories during the third quarter valued at approximately $106,000. Thompson Davis & CO. Inc. grew its holdings in Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares during the period. Finally, Cerebellum GP LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $133,000. Institutional investors own 72.35% of the company’s stock.

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Shares of ABT stock opened at $59.50 on Friday. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The company has a market cap of $106,404.13, a price-to-earnings ratio of 228.85, a PEG ratio of 1.81 and a beta of 1.52. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60.

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. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. research analysts forecast that Abbott Laboratories will post 2.86 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 430.79%.

In other Abbott Laboratories news, SVP Jared Watkin sold 996 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $58.87, for a total transaction of $58,634.52. Following the sale, the senior vice president now directly owns 69,511 shares of the company’s stock, valued at $4,092,112.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Roger Bird sold 8,262 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.75, for a total transaction of $518,440.50. Following the sale, the insider now directly owns 58,574 shares in the company, valued at $3,675,518.50. The disclosure for this sale can be found here. In the last three months, insiders sold 124,261 shares of company stock worth $7,559,987. 0.76% of the stock is currently owned by insiders.

A number of research analysts have weighed in on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $58.00 to $65.00 in a research note on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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