HUB Investment Partners LLC raised its position in Abbott Laboratories (NYSE:ABT - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,570 shares of the healthcare product maker's stock after buying an additional 7,664 shares during the quarter. HUB Investment Partners LLC's holdings in Abbott Laboratories were worth $3,345,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of ABT. Groupama Asset Managment grew its position in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker's stock worth $26,000 after purchasing an additional 41,557 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $26,000. NewSquare Capital LLC grew its holdings in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after buying an additional 105 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $34,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares of the company's stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock worth $15,463,316 in the last 90 days. 1.10% of the stock is owned by company insiders.
Abbott Laboratories Price Performance
ABT stock traded up $0.97 on Monday, reaching $127.31. The company had a trading volume of 5,283,007 shares, compared to its average volume of 5,481,777. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company's fifty day moving average is $128.79 and its 200 day moving average is $120.04. The company has a market cap of $220.79 billion, a P/E ratio of 16.64, a PEG ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.
Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts' consensus estimates of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.
Abbott Laboratories Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's payout ratio is 30.85%.
Analysts Set New Price Targets
Several research firms have recently commented on ABT. Argus upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. UBS Group raised their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Bank of America lifted their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.94.
View Our Latest Report on Abbott Laboratories
Abbott Laboratories Profile
(
Free Report)
Abbott Laboratories, together with its subsidiaries, 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 company 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, Ménière'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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