Cookson Peirce & Co. Inc. lessened its position in Abbott Laboratories (NYSE:ABT) by 11.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 603,655 shares of the healthcare product maker’s stock after selling 76,575 shares during the period. Abbott Laboratories makes up 4.2% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its largest holding. Cookson Peirce & Co. Inc.’s holdings in Abbott Laboratories were worth $43,662,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Csenge Advisory Group acquired a new stake in shares of Abbott Laboratories in the 3rd quarter worth $31,000. 1 North Wealth Services LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $33,000. Brand Asset Management Group Inc. increased its holdings in shares of Abbott Laboratories by 66.7% in the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Exane Derivatives purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $42,000. Finally, Signet Investment Advisory Group Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $57,000. Institutional investors own 74.31% of the company’s stock.
A number of brokerages have recently issued reports on ABT. Wells Fargo & Co reiterated a “buy” rating on shares of Abbott Laboratories in a report on Thursday. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Barclays set a $84.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Friday, March 8th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, December 4th. Finally, Goldman Sachs Group upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and increased their price target for the company from $78.00 to $81.00 in a report on Friday, November 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $79.71.
In other news, CFO Brian B. Yoor sold 2,246 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $78.00, for a total transaction of $175,188.00. Following the completion of the sale, the chief financial officer now directly owns 116,627 shares in the company, valued at $9,096,906. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Roger Bird sold 9,188 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $79.06, for a total transaction of $726,403.28. Following the sale, the insider now owns 60,195 shares of the company’s stock, valued at $4,759,016.70. The disclosure for this sale can be found here. Insiders have sold a total of 198,669 shares of company stock valued at $14,085,330 over the last 90 days. 0.74% of the stock is currently owned by insiders.
NYSE:ABT opened at $79.86 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Abbott Laboratories has a twelve month low of $56.81 and a twelve month high of $80.15. The stock has a market cap of $137.43 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts forecast that Abbott Laboratories will post 3.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, April 12th. This represents a $1.28 annualized dividend and a yield of 1.60%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
ILLEGAL ACTIVITY WARNING: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2019/03/17/cookson-peirce-co-inc-has-43-66-million-stake-in-abbott-laboratories-abt.html.
Abbott Laboratories Profile
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.
Featured Article: Price to Earnings Ratio (PE) Basics
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.