Private Wealth Advisors Inc. lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,726 shares of the healthcare product maker’s stock after purchasing an additional 164 shares during the period. Private Wealth Advisors Inc.’s holdings in Abbott Laboratories were worth $776,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of ABT. Sargent Investment Group LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at about $275,000. Riverview Trust Co bought a new stake in Abbott Laboratories during the fourth quarter worth about $1,470,000. Mn Services Vermogensbeheer B.V. boosted its stake in Abbott Laboratories by 6.4% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 300,280 shares of the healthcare product maker’s stock worth $18,999,000 after acquiring an additional 18,100 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its stake in Abbott Laboratories by 1.1% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 45,940 shares of the healthcare product maker’s stock worth $3,323,000 after acquiring an additional 503 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Abbott Laboratories by 1.2% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 107,410 shares of the healthcare product maker’s stock worth $7,769,000 after acquiring an additional 1,225 shares in the last quarter. Institutional investors own 75.20% of the company’s stock.
ABT has been the topic of several research reports. 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 upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Monday, January 28th. Gabelli reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Wednesday, January 2nd. Royal Bank of Canada upped their target price on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $80.48.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.91%. The firm had revenue of $7.54 billion during the quarter, compared to analysts’ expectations of $7.49 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, research analysts expect that Abbott Laboratories will post 3.21 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.63%. Abbott Laboratories’s dividend payout ratio is 44.44%.
In other Abbott Laboratories news, insider Jaime Contreras sold 177,457 shares of the stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the completion of the transaction, the insider now owns 100,985 shares in the company, valued at $7,068,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Miles D. White sold 75,739 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $78.61, for a total transaction of $5,953,842.79. Following the transaction, the chairman now owns 3,469,165 shares of the company’s stock, valued at approximately $272,711,060.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 336,939 shares of company stock valued at $24,808,980. 0.70% of the stock is owned by company insiders.
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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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