CMG Global Holdings LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,966 shares of the healthcare product maker’s stock, valued at approximately $236,000.
A number of other hedge funds have also recently modified their holdings of ABT. Norges Bank bought a new stake in Abbott Laboratories in the 4th quarter worth about $1,881,512,000. FMR LLC grew its position in Abbott Laboratories by 20.3% in the 4th quarter. FMR LLC now owns 18,139,806 shares of the healthcare product maker’s stock worth $1,986,127,000 after purchasing an additional 3,058,593 shares in the last quarter. Morgan Stanley grew its position in Abbott Laboratories by 5.2% in the 4th quarter. Morgan Stanley now owns 26,687,412 shares of the healthcare product maker’s stock worth $2,922,006,000 after purchasing an additional 1,316,343 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Abbott Laboratories by 56.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,949,172 shares of the healthcare product maker’s stock worth $321,943,000 after purchasing an additional 1,067,460 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Abbott Laboratories by 26,166.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 993,387 shares of the healthcare product maker’s stock worth $108,766,000 after purchasing an additional 989,605 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.
In related news, Director Michelle Kumbier purchased 2,040 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, February 23rd. The shares were bought at an average price of $122.50 per share, for a total transaction of $249,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph J. Manning sold 18,750 shares of the business’s stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $122.79, for a total transaction of $2,302,312.50. Following the transaction, the senior vice president now owns 81,561 shares in the company, valued at approximately $10,014,875.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,476 shares of company stock valued at $3,366,543. Insiders own 1.70% of the company’s stock.
Shares of ABT stock traded up $0.41 during mid-day trading on Friday, reaching $124.35. The stock had a trading volume of 6,242,169 shares, compared to its average volume of 5,157,686. The firm has a market capitalization of $220.29 billion, a PE ratio of 65.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. The stock’s 50-day moving average price is $119.52 and its two-hundred day moving average price is $113.97. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Abbott Laboratories has a 52-week low of $86.16 and a 52-week high of $128.54.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Tuesday, January 26th. The healthcare product maker reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $9.94 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post 3.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 55.56%.
A number of research firms have recently weighed in on ABT. BTIG Research raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday, January 28th. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $128.00 to $137.00 in a research report on Thursday, January 28th. Raymond James increased their target price on shares of Abbott Laboratories from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Tuesday, February 2nd. Finally, SVB Leerink upped their price target on shares of Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research note on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $124.39.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, MÃ©niÃ¨re's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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