Blackhill Capital Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,910 shares of the healthcare product maker’s stock after selling 8,000 shares during the period. Abbott Laboratories accounts for 3.8% of Blackhill Capital Inc.’s holdings, making the stock its 6th largest holding. Blackhill Capital Inc.’s holdings in Abbott Laboratories were worth $21,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of the business. Calton & Associates Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $367,000. Delaney Dennis R boosted its position in Abbott Laboratories by 25.0% in the fourth quarter. Delaney Dennis R now owns 52,537 shares of the healthcare product maker’s stock valued at $2,997,000 after buying an additional 10,516 shares in the last quarter. Harbour Investment Management LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $2,028,000. Somerville Kurt F boosted its position in Abbott Laboratories by 0.5% in the fourth quarter. Somerville Kurt F now owns 247,080 shares of the healthcare product maker’s stock valued at $14,102,000 after buying an additional 1,195 shares in the last quarter. Finally, Charter Research & Investment Group Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $318,000. Hedge funds and other institutional investors own 72.46% of the company’s stock.
Abbott Laboratories (NYSE ABT) opened at $63.62 on Tuesday. Abbott Laboratories has a 52 week low of $42.31 and a 52 week high of $64.60. The firm has a market cap of $111,100.00, a price-to-earnings ratio of 61.17, a P/E/G ratio of 1.91 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 107.69%.
A number of analysts have weighed in on the stock. Wells Fargo & Co raised their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Leerink Swann reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research note on Friday, January 19th. Royal Bank of Canada reaffirmed a “buy” rating and set a $67.00 price target on shares of Abbott Laboratories in a research note on Thursday, January 25th. Citigroup raised their price target on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, BMO Capital Markets raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and raised their price target for the company from $58.00 to $65.00 in a research note on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $65.47.
In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total value of $1,555,279.48. Following the completion of the sale, the insider now directly owns 102,117 shares in the company, valued at $5,608,265.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jared Watkin sold 996 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $58.87, for a total transaction of $58,634.52. Following the completion of the sale, the senior vice president now owns 69,511 shares of the company’s stock, valued at $4,092,112.57. The disclosure for this sale can be found here. Insiders have sold 144,318 shares of company stock valued at $8,596,826 in the last three months. 0.76% of the stock is owned by insiders.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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