Deltec Asset Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 142,800 shares of the healthcare product maker’s stock after selling 7,500 shares during the quarter. Abbott Laboratories comprises approximately 1.7% of Deltec Asset Management LLC’s holdings, making the stock its 20th largest position. Deltec Asset Management LLC’s holdings in Abbott Laboratories were worth $8,150,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ABT. Delaney Dennis R lifted its holdings in shares of 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 during the period. Harbour Investment Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at $2,028,000. Somerville Kurt F lifted its holdings in shares of 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 during the period. Charter Research & Investment Group Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at $318,000. Finally, Sandy Spring Bank lifted its holdings in shares of Abbott Laboratories by 2.8% in the fourth quarter. Sandy Spring Bank now owns 130,742 shares of the healthcare product maker’s stock valued at $7,461,000 after buying an additional 3,523 shares during the period. Institutional investors own 72.46% of the company’s stock.
ABT has been the subject of several research analyst reports. ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BTIG Research lowered Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Barclays restated a “buy” rating and issued a $66.00 price objective on shares of Abbott Laboratories in a report on Monday, January 8th. Leerink Swann restated a “market perform” rating and issued a $68.00 price objective (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Morgan Stanley upped their price objective on Abbott Laboratories from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.47.
Shares of Abbott Laboratories (NYSE:ABT) opened at $63.62 on Tuesday. The stock has a market capitalization of $111,066.84, a price-to-earnings ratio of 25.44, 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 52-week low of $42.31 and a 52-week high of $64.60.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping 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%. Abbott Laboratories’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share. research analysts anticipate 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. Investors of record on Friday, April 13th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is 430.79%.
About Abbott Laboratories
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.
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.