Capital Bank & Trust Co raised its stake in Abbott Laboratories (NYSE:ABT) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,036,601 shares of the healthcare product maker’s stock after acquiring an additional 71,235 shares during the period. Capital Bank & Trust Co owned 0.06% of Abbott Laboratories worth $90,039,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of ABT. Cetera Advisor Networks LLC boosted its position in shares of Abbott Laboratories by 12.3% during the fourth quarter. Cetera Advisor Networks LLC now owns 40,256 shares of the healthcare product maker’s stock worth $3,491,000 after buying an additional 4,411 shares during the period. Alliancebernstein L.P. lifted its position in Abbott Laboratories by 4.5% in the 4th quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock worth $1,222,326,000 after buying an additional 610,015 shares in the last quarter. Cetera Investment Advisers boosted its position in Abbott Laboratories by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 20,124 shares of the healthcare product maker’s stock valued at $1,747,000 after purchasing an additional 208 shares during the last quarter. Aviance Capital Partners LLC grew its position in Abbott Laboratories by 1.6% in the fourth quarter. Aviance Capital Partners LLC now owns 8,475 shares of the healthcare product maker’s stock worth $736,000 after acquiring an additional 130 shares in the last quarter. Finally, NorthRock Partners LLC increased its position in Abbott Laboratories by 190.3% during the fourth quarter. NorthRock Partners LLC now owns 37,540 shares of the healthcare product maker’s stock worth $1,005,000 after buying an additional 24,609 shares during the last quarter. Institutional investors own 75.02% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Raymond James increased their price objective on Abbott Laboratories from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Wednesday, February 12th. They set a “neutral” rating and a $96.00 target price for the company. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $93.00 to $101.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a report on Thursday, February 6th. Finally, Wells Fargo & Co increased their target price on Abbott Laboratories from $97.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $96.13.
In other Abbott Laboratories news, CFO Brian B. Yoor sold 509,850 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $89.73, for a total value of $45,748,840.50. Following the completion of the sale, the chief financial officer now directly owns 155,610 shares in the company, valued at $13,962,885.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 1,120 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $88.61, for a total value of $99,243.20. Following the completion of the transaction, the executive vice president now owns 40,140 shares in the company, valued at approximately $3,556,805.40. The disclosure for this sale can be found here. Insiders sold a total of 568,733 shares of company stock valued at $50,878,762 over the last ninety days. Insiders own 1.70% of the company’s stock.
Shares of Abbott Laboratories stock traded up $3.47 during trading hours on Thursday, hitting $74.22. The company’s stock had a trading volume of 221,695 shares, compared to its average volume of 12,224,732. The company has a market capitalization of $122.89 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.44 and a quick ratio of 1.04. The stock has a 50 day moving average of $81.95 and a 200 day moving average of $84.07. Abbott Laboratories has a 12 month low of $61.61 and a 12 month high of $92.45.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. Abbott Laboratories had a return on equity of 18.39% and a net margin of 11.56%. The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the prior year, the business earned $0.81 EPS. Abbott Laboratories’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 3.6 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, April 14th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
Abbott Laboratories Profile
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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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