A number of other large investors have also modified their holdings of the stock. Jarislowsky Fraser Ltd raised its position in Abbott Laboratories by 1.9% in the fourth quarter. Jarislowsky Fraser Ltd now owns 2,315,485 shares of the healthcare product maker’s stock worth $88,937,000 after buying an additional 42,976 shares during the period. Senzar Asset Management LLC purchased a new position in Abbott Laboratories during the fourth quarter worth approximately $7,539,000. Putnam Investments LLC raised its position in Abbott Laboratories by 8.2% in the fourth quarter. Putnam Investments LLC now owns 621,605 shares of the healthcare product maker’s stock worth $23,876,000 after buying an additional 47,268 shares during the period. SNS Financial Group LLC raised its position in Abbott Laboratories by 47.6% in the fourth quarter. SNS Financial Group LLC now owns 15,612 shares of the healthcare product maker’s stock worth $600,000 after buying an additional 5,037 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in Abbott Laboratories during the fourth quarter worth approximately $540,000. 71.02% of the stock is currently owned by institutional investors and hedge funds.
Lincoln National Corp raised its position in shares of Abbott Laboratories (NYSE:ABT) by 11.8% during the first quarter, Holdings Channel reports. The fund owned 27,951 shares of the healthcare product maker’s stock after buying an additional 2,956 shares during the period. Lincoln National Corp’s holdings in Abbott Laboratories were worth $1,241,000 at the end of the most recent reporting period.
Abbott Laboratories (ABT) opened at 49.15 on Wednesday. The company has a 50-day moving average of $48.97 and a 200 day moving average of $45.28. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13. The stock has a market capitalization of $85.29 billion, a price-to-earnings ratio of 68.84 and a beta of 1.07.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 15.53%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a $0.265 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.16%. Abbott Laboratories’s dividend payout ratio (DPR) is 149.30%.
A number of research analysts have recently commented on ABT shares. Zacks Investment Research lowered shares of Abbott Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, April 10th. Wells Fargo & Company restated an “outperform” rating and set a $54.00 price target (up from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Barclays PLC restated an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Finally, BMO Capital Markets restated a “hold” rating and set a $48.00 price target on shares of Abbott Laboratories in a research report on Tuesday, July 11th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $51.93.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,188,448. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jared Watkin sold 552 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the sale, the insider now directly owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 216,702 shares of company stock valued at $10,051,413. 0.76% of the stock is owned by corporate insiders.
About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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