Alerus Financial NA purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 22,020 shares of the healthcare product maker’s stock, valued at approximately $1,593,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Csenge Advisory Group purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $31,000. Brand Asset Management Group Inc. lifted its position in shares of Abbott Laboratories by 66.7% in the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 200 shares during the period. Exane Derivatives purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth about $42,000. Signet Investment Advisory Group Inc. purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth about $57,000. Finally, Ruggie Capital Group lifted its position in shares of Abbott Laboratories by 32.9% in the 4th quarter. Ruggie Capital Group now owns 795 shares of the healthcare product maker’s stock worth $57,000 after purchasing an additional 197 shares during the period. 72.57% of the stock is owned by institutional investors and hedge funds.
ABT has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Abbott Laboratories from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 2nd. Citigroup lowered shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $72.00 to $68.00 in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Monday, January 28th. Bank of America reiterated a “buy” rating and issued a $81.00 price target (up from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. Finally, Argus increased their price target on shares of Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a research note on Friday, January 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $79.48.
Shares of Abbott Laboratories stock opened at $77.62 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13. The stock has a market capitalization of $133.71 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14. Abbott Laboratories has a 1 year low of $56.81 and a 1 year high of $78.06.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.82 billion. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.50%. Abbott Laboratories’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Equities research analysts expect that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.65%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
In other Abbott Laboratories news, insider Jaime Contreras sold 177,457 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the completion of the sale, the insider now directly owns 100,985 shares in the company, valued at approximately $7,068,950. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John G. Stratton acquired 3,455 shares of Abbott Laboratories stock in a transaction on Thursday, January 31st. The shares were purchased at an average price of $72.32 per share, with a total value of $249,865.60. Following the completion of the purchase, the director now owns 3,558 shares in the company, valued at approximately $257,314.56. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.
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About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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