Simplify Asset Management Inc. grew its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 56.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,079 shares of the healthcare product maker's stock after buying an additional 7,996 shares during the quarter. Simplify Asset Management Inc.'s holdings in Abbott Laboratories were worth $2,497,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Noble Wealth Management PBC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $26,000. NewSquare Capital LLC boosted its stake in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after purchasing an additional 105 shares during the period. Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 75.18% of the company's stock.
Abbott Laboratories Price Performance
Abbott Laboratories stock traded down $1.75 during trading hours on Tuesday, hitting $125.46. 6,176,592 shares of the stock were exchanged, compared to its average volume of 5,480,421. The stock has a market capitalization of $217.59 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The business's 50-day moving average is $128.79 and its two-hundred day moving average is $120.04.
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 the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 EPS. Equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.
Abbott Laboratories Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's payout ratio is 30.85%.
Insider Buying and Selling at Abbott Laboratories
In related news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction that occurred 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 sale, the executive vice president now owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 125,697 shares of the company's stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,449 shares of company stock valued at $15,463,316. Corporate insiders own 1.10% of the company's stock.
Analyst Ratings Changes
ABT has been the subject of a number of recent analyst reports. Citigroup increased their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Barclays reissued 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. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Bank of America increased their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Finally, StockNews.com lowered Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.94.
Read Our Latest Analysis on Abbott Laboratories
About Abbott Laboratories
(
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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