Canal Insurance CO lifted its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 125.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,000 shares of the healthcare product maker’s stock after buying an additional 50,000 shares during the quarter. Abbott Laboratories comprises approximately 2.0% of Canal Insurance CO’s investment portfolio, making the stock its 16th biggest holding. Canal Insurance CO’s holdings in Abbott Laboratories were worth $9,240,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. American National Bank of Texas grew its holdings in Abbott Laboratories by 2.4% during the 4th quarter. American National Bank of Texas now owns 3,408 shares of the healthcare product maker’s stock worth $427,000 after acquiring an additional 79 shares during the period. Nia Impact Advisors LLC raised its position in shares of Abbott Laboratories by 2.2% during the 2nd quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker’s stock valued at $504,000 after acquiring an additional 79 shares during the last quarter. Park Place Capital Corp lifted its stake in shares of Abbott Laboratories by 11.0% in the 4th quarter. Park Place Capital Corp now owns 815 shares of the healthcare product maker’s stock valued at $102,000 after purchasing an additional 81 shares during the period. Lantern Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 1.7% in the 3rd quarter. Lantern Wealth Advisors LLC now owns 5,028 shares of the healthcare product maker’s stock worth $674,000 after purchasing an additional 84 shares during the last quarter. Finally, Clayton Financial Group LLC grew its stake in shares of Abbott Laboratories by 1.4% during the fourth quarter. Clayton Financial Group LLC now owns 6,217 shares of the healthcare product maker’s stock worth $779,000 after purchasing an additional 84 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.
Abbott Laboratories Stock Down 2.0%
ABT stock opened at $92.01 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. The stock has a market capitalization of $160.27 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.62 and a beta of 0.61. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $137.49. The business has a 50-day moving average of $89.23 and a 200-day moving average of $102.86.
Abbott Laboratories Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories’s payout ratio is currently 70.59%.
Analysts Set New Price Targets
ABT has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Daiwa Securities Group lowered Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 target price for the company. in a research report on Wednesday, April 22nd. Leerink Partners lowered their price target on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. Finally, Argus reduced their price objective on shares of Abbott Laboratories from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.42.
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories news, CFO Philip P. Boudreau acquired 2,200 shares of Abbott Laboratories stock in a transaction dated Thursday, April 23rd. The stock was bought at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following the purchase, the chief financial officer directly owned 2,200 shares in the company, valued at approximately $201,300. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel J. Starks acquired 10,000 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $92.65 per share, with a total value of $926,500.00. Following the acquisition, the director directly owned 6,751,103 shares in the company, valued at $625,489,692.95. This represents a 0.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.46% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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