Northwest & Ethical Investments L.P. raised its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 63.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,637 shares of the healthcare product maker's stock after purchasing an additional 44,718 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Abbott Laboratories were worth $13,080,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Groupama Asset Managment lifted its stake in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker's stock valued at $26,000 after purchasing an additional 41,557 shares during the last quarter. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC grew its stake in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Abbott Laboratories during the 4th quarter worth $29,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter worth $34,000. 75.18% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories Price Performance
Shares of ABT stock traded up $0.97 on Monday, reaching $127.31. 5,283,007 shares of the company were exchanged, compared to its average volume of 5,481,777. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. 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 business has a 50-day moving average price of $128.79 and a 200 day moving average price of $120.04. The company has a market cap of $220.79 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 2.52 and a beta of 0.70.
Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.85%. Abbott Laboratories's payout ratio is presently 30.85%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Barclays reiterated an "overweight" rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Bank of America lifted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. StockNews.com downgraded shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Evercore ISI upped their target price on Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. Finally, Argus upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $137.94.
Read Our Latest Report on ABT
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction on 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 sale, the executive vice president now directly owns 71,928 shares in the company, valued at $9,625,404.96. This represents a 55.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,449 shares of company stock worth $15,463,316. Insiders own 1.10% of the company's stock.
Abbott Laboratories Company Profile
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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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