William Blair Investment Management LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 625,482 shares of the healthcare product maker’s stock after selling 10,016 shares during the period. William Blair Investment Management LLC’s holdings in Abbott Laboratories were worth $49,357,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Orser Capital Management LLC lifted its position in Abbott Laboratories by 155.3% during the 4th quarter. Orser Capital Management LLC now owns 2,795 shares of the healthcare product maker’s stock worth $243,000 after acquiring an additional 1,700 shares in the last quarter. NEXT Financial Group Inc grew its position in Abbott Laboratories by 20.9% in the fourth quarter. NEXT Financial Group Inc now owns 9,907 shares of the healthcare product maker’s stock valued at $860,000 after acquiring an additional 1,711 shares in the last quarter. RFG Advisory LLC raised its stake in shares of Abbott Laboratories by 55.3% during the fourth quarter. RFG Advisory LLC now owns 7,557 shares of the healthcare product maker’s stock valued at $656,000 after purchasing an additional 2,691 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth $65,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Abbott Laboratories by 6.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,229 shares of the healthcare product maker’s stock valued at $194,000 after purchasing an additional 129 shares during the period. 74.89% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Wells Fargo & Co boosted their price target on Abbott Laboratories from $95.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Credit Suisse Group increased their price target on Abbott Laboratories from $95.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Morgan Stanley lowered their price objective on Abbott Laboratories from $101.00 to $96.00 and set an “overweight” rating for the company in a research note on Friday, March 27th. Finally, Cfra increased their target price on Abbott Laboratories from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $99.47.
In other Abbott Laboratories news, EVP Andrew H. Lane sold 80,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total value of $7,360,000.00. Following the sale, the executive vice president now directly owns 107,090 shares of the company’s stock, valued at $9,852,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher J. Scoggins sold 414 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $96.10, for a total value of $39,785.40. Following the completion of the sale, the senior vice president now directly owns 39,706 shares in the company, valued at $3,815,746.60. The disclosure for this sale can be found here. In the last three months, insiders sold 166,186 shares of company stock worth $15,359,524. Company insiders own 1.70% of the company’s stock.
Shares of NYSE:ABT traded up $0.17 on Friday, reaching $90.56. 538,105 shares of the company’s stock were exchanged, compared to its average volume of 7,722,559. The business’s 50-day moving average is $89.78 and its two-hundred day moving average is $85.71. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $100.00. The firm has a market capitalization of $159.36 billion, a price-to-earnings ratio of 45.30, a PEG ratio of 3.74 and a beta of 0.98.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The business had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 2.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. Abbott Laboratories’s payout ratio is 44.44%.
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 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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