Adirondack Research & Management Inc. Takes Position in Abbott Laboratories (ABT)

Adirondack Research & Management Inc. Takes Position in Abbott Laboratories (ABT)

Adirondack Research & Management Inc. acquired a new stake in Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,625 shares of the healthcare product maker’s stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ABT. Bruderman Asset Management LLC increased its position in shares of Abbott Laboratories by 0.3% in the third quarter. Bruderman Asset Management LLC now owns 3,124 shares of the healthcare product maker’s stock valued at $132,000 after buying an additional 10 shares during the period. Summit Financial Strategies Inc. boosted its stake in shares of Abbott Laboratories by 0.4% in the second quarter. Summit Financial Strategies Inc. now owns 5,207 shares of the healthcare product maker’s stock valued at $205,000 after buying an additional 19 shares in the last quarter. Johanson Financial Advisors Inc. boosted its stake in shares of Abbott Laboratories by 0.5% in the third quarter. Johanson Financial Advisors Inc. now owns 5,214 shares of the healthcare product maker’s stock valued at $222,000 after buying an additional 26 shares in the last quarter. Alpha Windward LLC boosted its stake in shares of Abbott Laboratories by 0.6% in the third quarter. Alpha Windward LLC now owns 5,147 shares of the healthcare product maker’s stock valued at $218,000 after buying an additional 32 shares in the last quarter. Finally, Sabal Trust CO boosted its stake in shares of Abbott Laboratories by 0.4% in the third quarter. Sabal Trust CO now owns 9,156 shares of the healthcare product maker’s stock valued at $387,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 62.51% of the company’s stock.

Abbott Laboratories (NYSE:ABT) traded up 0.10% during midday trading on Friday, reaching $41.00. 7,033,637 shares of the company traded hands. The firm has a market capitalization of $60.36 billion, a price-to-earnings ratio of 43.76 and a beta of 0.92. The firm’s 50 day moving average price is $39.63 and its 200 day moving average price is $41.18. Abbott Laboratories has a 12 month low of $36.02 and a 12 month high of $45.79.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 25th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. Abbott Laboratories had a net margin of 6.71% and a return on equity of 15.74%. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same period last year, the business posted $0.62 EPS. Abbott Laboratories’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Abbott Laboratories will post $2.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.26. This represents a $1.06 dividend on an annualized basis and a yield of 2.59%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 113.98%.

ABT has been the subject of several research reports. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Royal Bank Of Canada lowered their price objective on shares of Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday. TheStreet cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. Jefferies Group LLC boosted their price objective on shares of Abbott Laboratories from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, January 13th. Finally, RBC Capital Markets decreased their price target on shares of Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $46.33.

In other news, insider Brian J. Blaser bought 15,580 shares of the stock in a transaction that occurred on Tuesday, December 20th. The shares were acquired at an average cost of $38.45 per share, for a total transaction of $599,051.00. Following the purchase, the insider now owns 129,782 shares of the company’s stock, valued at approximately $4,990,117.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Miles D. White bought 121,456 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was purchased at an average price of $40.45 per share, for a total transaction of $4,912,895.20. Following the completion of the purchase, the chairman now directly owns 2,802,558 shares in the company, valued at approximately $113,363,471.10. The disclosure for this purchase can be found here. Insiders purchased a total of 154,911 shares of company stock worth $6,211,445 over the last quarter. 0.26% of the stock is currently owned by company insiders.

Abbott Laboratories Company Profile

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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