Sequoia Financial Advisors LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 28.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,611 shares of the healthcare product maker’s stock after acquiring an additional 3,868 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Abbott Laboratories were worth $1,390,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. grew its stake in shares of Abbott Laboratories by 57.0% during the 1st quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock worth $25,000 after acquiring an additional 114 shares during the period. Larson Financial Group LLC boosted its stake in Abbott Laboratories by 374.3% in the 1st quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock worth $28,000 after purchasing an additional 277 shares during the period. Lion Street Advisors LLC bought a new position in Abbott Laboratories in the 1st quarter worth about $31,000. Howard Wealth Management LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $32,000. Finally, AlphaCore Capital LLC bought a new position in Abbott Laboratories in the 1st quarter worth about $33,000. Institutional investors own 74.89% of the company’s stock.
Shares of NYSE ABT traded up $1.08 during trading hours on Friday, reaching $91.47. 5,182,655 shares of the stock traded hands, compared to its average volume of 7,501,599. The company 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 quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $100.00. The company’s 50-day simple moving average is $90.01 and its two-hundred day simple moving average is $85.74.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. The company had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.47 billion. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. Abbott Laboratories’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 2.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. Abbott Laboratories’s dividend payout ratio is 44.44%.
In related news, EVP Andrew H. Lane sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the transaction, the executive vice president now directly owns 107,090 shares in the company, valued at approximately $9,852,280. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John F. Ginascol sold 63,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $96.00, for a total value of $6,067,200.00. Following the transaction, the executive vice president now owns 129,645 shares in the company, valued at $12,445,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,186 shares of company stock worth $15,359,524. 1.70% of the stock is currently owned by insiders.
Several research analysts have commented on the company. UBS Group raised their target price on Abbott Laboratories from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Citigroup raised their target price on Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Credit Suisse Group restated a “buy” rating and issued a $106.00 target price on shares of Abbott Laboratories in a research note on Friday. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, April 16th. Finally, Barclays raised their target price on Abbott Laboratories from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently 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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