Radnor Capital Management LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 16.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,896 shares of the healthcare product maker’s stock after purchasing an additional 1,125 shares during the period. Radnor Capital Management LLC’s holdings in Abbott Laboratories were worth $865,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth approximately $29,000. Price Wealth LLC boosted its holdings in shares of Abbott Laboratories by 63.6% during the third quarter. Price Wealth LLC now owns 306 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 119 shares during the period. Crewe Advisors LLC boosted its holdings in shares of Abbott Laboratories by 278.4% during the third quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock worth $40,000 after acquiring an additional 270 shares during the period. Tortoise Investment Management LLC boosted its holdings in shares of Abbott Laboratories by 138.9% during the third quarter. Tortoise Investment Management LLC now owns 516 shares of the healthcare product maker’s stock worth $56,000 after acquiring an additional 300 shares during the period. Finally, ELM Advisors LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $66,000. 72.58% of the stock is owned by hedge funds and other institutional investors.
ABT traded up $3.76 during trading on Wednesday, hitting $112.60. 154,996 shares of the stock traded hands, compared to its average volume of 4,973,860. Abbott Laboratories has a twelve month low of $61.61 and a twelve month high of $115.14. The company has a market cap of $199.57 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 2.07 and a beta of 0.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. The business has a 50 day moving average price of $108.44 and a 200 day moving average price of $105.00.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be given a dividend of $0.45 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
A number of equities research analysts have recently issued reports on ABT shares. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $113.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Credit Suisse Group cut their price target on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd. Morgan Stanley boosted their price target on Abbott Laboratories from $121.00 to $126.00 and gave the company an “overweight” rating in a research note on Tuesday, December 15th. Finally, Raymond James boosted their price target on Abbott Laboratories from $102.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $115.82.
In other Abbott Laboratories news, Director Phebe N. Novakovic sold 4,790 shares of the firm’s stock in a transaction dated Friday, December 4th. The shares were sold at an average price of $107.28, for a total transaction of $513,871.20. Following the transaction, the director now owns 34,446 shares of the company’s stock, valued at approximately $3,695,366.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert E. Funck sold 83,333 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $108.83, for a total transaction of $9,069,130.39. Following the transaction, the chief financial officer now directly owns 265,550 shares in the company, valued at approximately $28,899,806.50. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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; MÃ©niÃ¨re'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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