Poplar Forest Capital LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 792,342 shares of the healthcare product maker’s stock after acquiring an additional 31,469 shares during the quarter. Abbott Laboratories makes up about 4.2% of Poplar Forest Capital LLC’s holdings, making the stock its 6th largest position. Poplar Forest Capital LLC’s holdings in Abbott Laboratories were worth $57,310,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Abbott Laboratories by 7,559.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock valued at $416,000 after buying an additional 29,702,943 shares during the period. Bank of New York Mellon Corp grew its position in Abbott Laboratories by 102,159.4% during the third quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock worth $1,997,943,000 after buying an additional 27,208,125 shares in the last quarter. Capital International Investors grew its position in Abbott Laboratories by 257.0% during the third quarter. Capital International Investors now owns 19,869,687 shares of the healthcare product maker’s stock worth $1,457,640,000 after buying an additional 14,303,610 shares in the last quarter. Matthew Goff Investment Advisor LLC grew its position in Abbott Laboratories by 5,999.0% during the third quarter. Matthew Goff Investment Advisor LLC now owns 6,418,950 shares of the healthcare product maker’s stock worth $105,246,000 after buying an additional 6,313,704 shares in the last quarter. Finally, Sustainable Growth Advisers LP grew its position in Abbott Laboratories by 147.4% during the fourth quarter. Sustainable Growth Advisers LP now owns 4,390,018 shares of the healthcare product maker’s stock worth $317,530,000 after buying an additional 2,615,446 shares in the last quarter. Institutional investors and hedge funds own 74.31% of the company’s stock.
In other news, insider Sharon J. Bracken sold 5,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $77.83, for a total value of $428,065.00. Following the completion of the sale, the insider now owns 50,019 shares of the company’s stock, valued at approximately $3,892,978.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jared Watkin sold 1,391 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $78.00, for a total value of $108,498.00. Following the completion of the sale, the senior vice president now directly owns 75,926 shares of the company’s stock, valued at approximately $5,922,228. The disclosure for this sale can be found here. Insiders sold a total of 198,669 shares of company stock valued at $14,085,330 over the last quarter. Company insiders own 0.74% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 3.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is currently 44.44%.
Several research firms recently commented on ABT. Argus boosted their target price on Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a research report on Friday, January 25th. They noted that the move was a valuation call. Gabelli restated a “buy” rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. Goldman Sachs Group upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $74.10 target price for the company in a research report on Sunday, December 9th. UBS Group began coverage on Abbott Laboratories in a research report on Tuesday, November 27th. They set a “buy” rating and a $83.00 target price for the company. Finally, Barclays set a $84.00 target price on Abbott Laboratories and gave the stock a “buy” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and an average target price of $79.71.
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Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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