Sequoia Financial Advisors LLC increased its position in Abbott Laboratories (NYSE:ABT) by 28.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,611 shares of the healthcare product maker’s stock after acquiring an additional 3,868 shares during the period. Sequoia Financial Advisors LLC’s holdings in Abbott Laboratories were worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Bamco Inc. NY raised its stake in Abbott Laboratories by 37.2% in the 4th quarter. Bamco Inc. NY now owns 9,596 shares of the healthcare product maker’s stock worth $834,000 after acquiring an additional 2,600 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Abbott Laboratories by 12.3% during the 4th quarter. Cetera Advisor Networks LLC now owns 40,256 shares of the healthcare product maker’s stock valued at $3,491,000 after buying an additional 4,411 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Abbott Laboratories by 1,199.2% during the 1st quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock valued at $281,226,000 after buying an additional 3,289,573 shares during the last quarter. Capital Wealth Planning LLC grew its position in shares of Abbott Laboratories by 6.3% during the 4th quarter. Capital Wealth Planning LLC now owns 529,600 shares of the healthcare product maker’s stock valued at $46,001,000 after acquiring an additional 31,200 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Abbott Laboratories by 4.5% during the 4th quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock valued at $1,222,326,000 after acquiring an additional 610,015 shares during the period. Institutional investors own 74.89% of the company’s stock.
In other Abbott Laboratories news, SVP Jared Watkin sold 8,248 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $82.00, for a total value of $676,336.00. Following the sale, the senior vice president now owns 68,696 shares of the company’s stock, valued at $5,633,072. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew H. Lane sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $92.00, for a total value of $7,360,000.00. Following the completion of the sale, the executive vice president now directly owns 107,090 shares in the company, valued at approximately $9,852,280. The disclosure for this sale can be found here. In the last three months, insiders sold 166,186 shares of company stock worth $15,359,524. 1.70% of the stock is owned by corporate insiders.
Shares of ABT stock traded up $1.08 during trading on Friday, hitting $91.47. 5,182,655 shares of the stock traded hands, compared to its average volume of 7,501,599. The firm has a market capitalization of $159.89 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 3.75 and a beta of 0.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.01. The firm’s fifty day moving average price is $90.01 and its 200-day moving average price is $85.74. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $100.00.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.47 billion. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 2.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 8th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.35%. Abbott Laboratories’s payout ratio is 44.44%.
ABT has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on Abbott Laboratories from $101.00 to $96.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. JPMorgan Chase & Co. raised their target price on Abbott Laboratories from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Stifel Nicolaus raised their target price on Abbott Laboratories from $85.00 to $108.00 in a research report on Friday, April 17th. UBS Group lifted their price objective on Abbott Laboratories from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, SVB Leerink lowered their price objective on Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating on the stock in a report on Wednesday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $99.47.
Abbott Laboratories 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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