Palladium Partners LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,114 shares of the healthcare product maker’s stock after purchasing an additional 1,045 shares during the quarter. Palladium Partners LLC’s holdings in Abbott Laboratories were worth $3,146,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of The Ozarks lifted its stake in Abbott Laboratories by 65.8% during the fourth quarter. Bank of The Ozarks now owns 27,637 shares of the healthcare product maker’s stock worth $1,577,000 after purchasing an additional 10,970 shares during the last quarter. Calton & Associates Inc. bought a new position in Abbott Laboratories during the fourth quarter worth $367,000. Delaney Dennis R lifted its stake in Abbott Laboratories by 25.0% during the fourth quarter. Delaney Dennis R now owns 52,537 shares of the healthcare product maker’s stock worth $2,997,000 after purchasing an additional 10,516 shares during the last quarter. Harbour Investment Management LLC bought a new position in Abbott Laboratories during the fourth quarter worth $2,028,000. Finally, Somerville Kurt F lifted its stake in Abbott Laboratories by 0.5% during the fourth quarter. Somerville Kurt F now owns 247,080 shares of the healthcare product maker’s stock worth $14,102,000 after purchasing an additional 1,195 shares during the last quarter. Hedge funds and other institutional investors own 72.46% of the company’s stock.
ABT has been the topic of several analyst reports. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Evercore ISI initiated coverage on Abbott Laboratories in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price on the stock. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Finally, BTIG Research lowered Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $65.47.
Abbott Laboratories (ABT) opened at $63.62 on Tuesday. The company has a market capitalization of $111,066.84, a price-to-earnings ratio of 244.70, a PEG ratio of 1.91 and a beta of 1.52. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87. Abbott Laboratories has a fifty-two week low of $42.31 and a fifty-two week high of $64.60.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. sell-side analysts predict that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 430.79%.
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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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