Truehand Inc bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,129 shares of the healthcare product maker’s stock, valued at approximately $1,962,000. Abbott Laboratories comprises 1.7% of Truehand Inc’s investment portfolio, making the stock its 22nd largest position.
Other hedge funds have also made changes to their positions in the company. Csenge Advisory Group bought a new position in Abbott Laboratories in the third quarter valued at approximately $31,000. 1 North Wealth Services LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $33,000. Brand Asset Management Group Inc. lifted its holdings in Abbott Laboratories by 66.7% during the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Exane Derivatives acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $42,000. Finally, Hirtle Callaghan & Co LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $47,000. Institutional investors own 75.17% of the company’s stock.
In other news, CFO Brian B. Yoor sold 2,246 shares of the firm’s 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 directly owns 116,627 shares of the company’s stock, valued at $9,096,906. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider now owns 56,029 shares in the company, valued at approximately $4,458,787.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,021 shares of company stock valued at $20,485,856. 0.70% of the stock is currently owned by corporate insiders.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. Abbott Laboratories had a return on equity of 16.91% and a net margin of 8.53%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. Equities analysts predict that Abbott Laboratories will post 3.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
Several brokerages have weighed in on ABT. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, March 19th. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a report on Thursday, March 14th. Royal Bank of Canada boosted their price target on Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Barclays set a $84.00 price target on Abbott Laboratories and gave the stock a “buy” rating in a report on Friday, March 8th. Finally, William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $80.48.
About Abbott Laboratories
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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