Roberts Glore & Co. Inc. IL lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,784 shares of the healthcare product maker’s stock after selling 1,969 shares during the quarter. Abbott Laboratories makes up about 2.1% of Roberts Glore & Co. Inc. IL’s investment portfolio, making the stock its 10th biggest position. Roberts Glore & Co. Inc. IL’s holdings in Abbott Laboratories were worth $2,950,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. LSV Asset Management purchased a new stake in Abbott Laboratories in the third quarter worth approximately $792,000. Redpoint Investment Management Pty Ltd boosted its stake in shares of Abbott Laboratories by 7.8% during the third quarter. Redpoint Investment Management Pty Ltd now owns 110,915 shares of the healthcare product maker’s stock valued at $8,137,000 after purchasing an additional 8,006 shares during the period. Linscomb & Williams Inc. boosted its stake in shares of Abbott Laboratories by 1.3% during the third quarter. Linscomb & Williams Inc. now owns 91,463 shares of the healthcare product maker’s stock valued at $6,710,000 after purchasing an additional 1,214 shares during the period. Bollard Group LLC boosted its stake in shares of Abbott Laboratories by 4.2% during the third quarter. Bollard Group LLC now owns 138,122 shares of the healthcare product maker’s stock valued at $10,133,000 after purchasing an additional 5,504 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Abbott Laboratories by 59.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 18,447 shares of the healthcare product maker’s stock valued at $1,353,000 after purchasing an additional 6,889 shares during the period. 75.16% of the stock is currently owned by institutional investors.
ABT stock traded down $0.51 on Monday, reaching $77.50. The company’s stock had a trading volume of 5,613,832 shares, compared to its average volume of 6,080,304. Abbott Laboratories has a 12-month low of $56.81 and a 12-month high of $80.74. The firm has a market capitalization of $137.90 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.09 and a beta of 1.13. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is 44.44%.
A number of analysts have recently weighed in on ABT shares. Bank of America reissued a “buy” rating and set a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Monday, January 28th. Gabelli reissued a “buy” rating on shares of Abbott Laboratories in a research note on Wednesday, January 2nd. Royal Bank of Canada increased their price objective on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research note on Monday. They noted that the move was a valuation call. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $80.48.
In other Abbott Laboratories news, insider Joseph J. Manning sold 5,613 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $79.58, for a total value of $446,682.54. Following the completion of the transaction, the insider now owns 56,029 shares in the company, valued at $4,458,787.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian B. Yoor sold 2,246 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $175,188.00. Following the completion of the transaction, the chief financial officer now owns 116,627 shares of the company’s stock, valued at approximately $9,096,906. The disclosure for this sale can be found here. Insiders sold 280,021 shares of company stock valued at $20,485,856 in the last ninety days. 0.70% of the stock is currently owned by insiders.
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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.
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