Principal Financial Group Inc. increased its stake in Abbott Laboratories (NYSE:ABT) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,801,681 shares of the healthcare product maker’s stock after purchasing an additional 2,655 shares during the quarter. Principal Financial Group Inc.’s holdings in Abbott Laboratories were worth $417,075,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Heritage Wealth Advisors grew its position in shares of Abbott Laboratories by 1.9% in the fourth quarter. Heritage Wealth Advisors now owns 6,579 shares of the healthcare product maker’s stock valued at $571,000 after purchasing an additional 120 shares during the period. Appleton Partners Inc. MA boosted its stake in Abbott Laboratories by 0.5% in the 3rd quarter. Appleton Partners Inc. MA now owns 24,589 shares of the healthcare product maker’s stock worth $2,057,000 after buying an additional 123 shares during the last quarter. Private Advisory Group LLC boosted its stake in Abbott Laboratories by 2.6% in the 4th quarter. Private Advisory Group LLC now owns 4,823 shares of the healthcare product maker’s stock worth $419,000 after buying an additional 123 shares during the last quarter. Usca Ria LLC boosted its stake in Abbott Laboratories by 0.6% in the 4th quarter. Usca Ria LLC now owns 21,532 shares of the healthcare product maker’s stock worth $1,870,000 after buying an additional 125 shares during the last quarter. Finally, Circle Wealth Management LLC grew its holdings in Abbott Laboratories by 3.8% in the 3rd quarter. Circle Wealth Management LLC now owns 3,468 shares of the healthcare product maker’s stock valued at $290,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 73.58% of the company’s stock.
ABT has been the subject of a number of research analyst reports. William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th. Raymond James boosted their target price on shares of Abbott Laboratories from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Citigroup lowered shares of Abbott Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on shares of Abbott Laboratories from to in a research note on Thursday, January 23rd. Finally, Guggenheim lowered shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $95.57.
In related news, CFO Brian B. Yoor sold 509,850 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $89.73, for a total transaction of $45,748,840.50. Following the completion of the sale, the chief financial officer now directly owns 155,610 shares of the company’s stock, valued at approximately $13,962,885.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Joseph J. Manning sold 37,500 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $89.58, for a total value of $3,359,250.00. Following the completion of the sale, the senior vice president now owns 88,032 shares of the company’s stock, valued at $7,885,906.56. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
ABT traded down $0.08 on Monday, reaching $87.80. 2,358,688 shares of the company’s stock were exchanged, compared to its average volume of 5,249,171. Abbott Laboratories has a twelve month low of $72.12 and a twelve month high of $92.45. The company’s 50 day moving average is $87.69 and its 200-day moving average is $85.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.54. The company has a market cap of $155.39 billion, a price-to-earnings ratio of 42.62, a PEG ratio of 2.23 and a beta of 1.13.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. Abbott Laboratories had a net margin of 11.56% and a return on equity of 18.34%. The firm had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the previous year, the company posted $0.81 earnings per share. Abbott Laboratories’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Abbott Laboratories will post 3.6 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.36%. Abbott Laboratories’s payout ratio is currently 44.44%.
About Abbott Laboratories
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.
Featured Article: Learning About the VIX – Volatility Index
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.