Cypress Wealth Services LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,407 shares of the healthcare product maker’s stock, valued at approximately $1,678,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its position in shares of Abbott Laboratories by 45.7% in the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after purchasing an additional 14,918,038 shares during the period. Janus Henderson Group PLC boosted its position in shares of Abbott Laboratories by 3,373.9% in the 2nd quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after purchasing an additional 7,647,798 shares during the period. Vanguard Group Inc. boosted its position in shares of Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Abbott Laboratories by 28.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after purchasing an additional 2,606,404 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Abbott Laboratories by 76.1% in the 2nd quarter. Principal Financial Group Inc. now owns 4,557,426 shares of the healthcare product maker’s stock valued at $221,536,000 after purchasing an additional 1,969,723 shares during the period. 72.46% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Stephen R. Fussell sold 56,401 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the completion of the sale, the insider now directly owns 184,884 shares of the company’s stock, valued at approximately $11,020,935.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total value of $836,588.92. Following the sale, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The disclosure for this sale can be found here. Insiders have sold a total of 152,580 shares of company stock valued at $9,115,267 over the last ninety days. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same period last year, the company posted $0.65 EPS. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. equities analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders 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 dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 430.79%.
A number of research firms recently weighed in on ABT. Leerink Swann reiterated a “market perform” rating and issued a $68.00 price target (up previously from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Bank of America increased their price target on Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Evercore ISI began coverage on Abbott Laboratories in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $65.47.
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Abbott Laboratories 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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