Ibex Wealth Advisors acquired a new stake in Abbott Laboratories (NYSE: ABT – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,260 shares of the healthcare product maker’s stock, valued at approximately $ 1,163,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Jackson Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 2.1% in the third quarter. Jackson Wealth Management LLC now owns 34,368 shares of the healthcare product maker’s stock valued at $ 25,000 after purchasing an additional 722 shares during the period. KB Financial Partners LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $ 27,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $ 30,000. Delos Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 100.9% in the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock valued at $ 33,000 after purchasing an additional 116 shares during the period. Finally, Retirement Group LLC increased its holdings in shares of Abbott Laboratories by 1,125.0% in the fourth quarter. Retirement Group LLC now owns 245 shares of the healthcare product maker’s stock valued at $ 34,000 after purchasing an additional 225 shares during the period. Institutional investors own 73.46% of the company stock.
NYSE ABT opened at $ 102.07 on Friday. The business’s 50-day moving average price is $ 114.27 and its 200 day moving average price is $ 122.31. Abbott Laboratories has a twelve month low of $ 101.24 and a twelve month high of $ 142.60. The company has a market capitalization of $ 178.72 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73. The company has a current ratio of 1.85, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48.
Abbott Laboratories (NYSE: ABT – Get Rating) last released its earnings results on Wednesday, April 20th. The healthcare product maker reported $ 1.73 earnings per share for the quarter, topping the consensus estimate of $ 1.47 by $ 0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm had revenue of $ 11.90 billion for the quarter, compared to the consensus estimate of $ 11 billion. During the same period in the prior year, the business posted $ 1.32 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts predict that Abbott Laboratories will post 4.84 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be issued a $ 0.47 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $ 1.88 dividend on an annualized basis and a dividend yield of 1.84%. Abbott Laboratories’s dividend payout ratio (DPR) is 43.62%.
In other news, SVP Randel William Woodgrift sold 24,000 shares of the stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $ 113.00, for a total value of $ 2,712,000.00. Following the completion of the sale, the senior vice president now owns 47,854 shares in the company, valued at $ 5,407,502. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $ 113.22, for a total value of $ 5,661,000.00. Following the completion of the sale, the director now owns 6,973,500 shares of the company stock, valued at approximately $ 789,539,670. The disclosure for this sale can be found here. Company insiders own 0.52% of the company stock.
A number of brokerages recently weighed in on ABT. Raymond James dropped their price objective on Abbott Laboratories from $ 143.00 to $ 135.00 and set an “outperform” rating on the stock in a report on Thursday, April 21st. StockNews.com began coverage on Abbott Laboratories in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Morgan Stanley dropped their price objective on Abbott Laboratories from $ 151.00 to $ 145.00 and set an “overweight” rating on the stock in a report on Tuesday, June 7th. Royal Bank of Canada dropped their price objective on Abbott Laboratories from $ 146.00 to $ 143.00 and set an “outperform” rating on the stock in a report on Thursday, April 21st. Finally, Wells Fargo & Company lowered their target price on Abbott Laboratories from $ 155.00 to $ 150.00 and set an “overweight” rating on the stock in a report on Friday, April 8th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $ 140.25.
Abbott Laboratories Profile: (Get Rating)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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