Shell Asset Management Co. Acquires Shares of 374,871 Abbott Laboratories (ABT)

Shell Asset Management Co. acquired a new position in Abbott Laboratories (NYSE:ABT) in the 4th quarter, HoldingsChannel reports. The firm acquired 374,871 shares of the healthcare product maker’s stock, valued at approximately $21,394,000.

A number of other institutional investors have also modified their holdings of ABT. Farmers National Bank boosted its position in shares of Abbott Laboratories by 2.4% during the second quarter. Farmers National Bank now owns 3,653 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 85 shares during the period. L & S Advisors Inc boosted its position in shares of Abbott Laboratories by 0.7% during the second quarter. L & S Advisors Inc now owns 21,348 shares of the healthcare product maker’s stock worth $1,038,000 after buying an additional 150 shares during the period. Moors & Cabot Inc. boosted its position in shares of Abbott Laboratories by 0.3% during the second quarter. Moors & Cabot Inc. now owns 48,781 shares of the healthcare product maker’s stock worth $2,376,000 after buying an additional 161 shares during the period. Heritage Trust Co boosted its position in shares of Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares during the period. Finally, Sheaff Brock Investment Advisors LLC boosted its position in shares of Abbott Laboratories by 1.4% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 16,007 shares of the healthcare product maker’s stock worth $778,000 after buying an additional 225 shares during the period. Institutional investors own 72.37% of the company’s stock.

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In other Abbott Laboratories news, SVP Jared Watkin sold 996 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $58.87, for a total value of $58,634.52. Following the sale, the senior vice president now directly owns 69,511 shares in the company, valued at $4,092,112.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total value of $836,588.92. Following the completion of the sale, the executive vice president now owns 152,343 shares in the company, valued at $9,573,234.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,261 shares of company stock worth $7,559,987. 0.74% of the stock is owned by insiders.

Abbott Laboratories (NYSE:ABT) opened at $59.50 on Monday. The stock has a market capitalization of $103,906.88, a price-to-earnings ratio of 23.80, a P/E/G ratio of 1.76 and a beta of 1.52. Abbott Laboratories has a fifty-two week low of $42.31 and a fifty-two week high of $64.60. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating 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 company had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. During the same period last year, the firm earned $0.65 earnings per share. Abbott Laboratories’s quarterly revenue was up 42.3% on a year-over-year basis. research analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current year.

The firm 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. This represents a $1.12 dividend on an annualized basis and a 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%.

Several research firms have recently commented on ABT. Wells Fargo raised their price target on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. William Blair upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 25th. Morgan Stanley upgraded Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target for the company in a research report on Tuesday, January 2nd. Finally, Barclays raised their price target on Abbott Laboratories from $66.00 to $70.00 and gave the stock 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 assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $65.47.

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Abbott Laboratories 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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