Clarity Financial LLC lifted its position in shares of Abbott Laboratories (NYSE: ABT – Get Rating) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,090 shares of the healthcare product maker’s stock after purchasing an additional 680 shares during the quarter. Clarity Financial LLC’s holdings in Abbott Laboratories were worth $ 4,272,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC bought a new position in Abbott Laboratories in the 4th quarter valued at $ 30,000. Delos Wealth Advisors LLC grew its stake in Abbott Laboratories by 100.9% in the 4th 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. Retirement Group LLC grew its stake in Abbott Laboratories by 1,125.0% in the 4th 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. Joseph Group Capital Management bought a new position in Abbott Laboratories in the 4th quarter valued at $ 1,566,000. Finally, Holloway Wealth Management LLC grew its stake in Abbott Laboratories by 175.0% in the 1st quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock valued at $ 33,000 after purchasing an additional 175 shares during the period. 73.46% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on ABT. Bank of America began coverage on Abbott Laboratories in a research note on Tuesday, March 1st. They set a “buy” rating and a $ 140.00 price target for the company. StockNews.com began coverage on Abbott Laboratories in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Raymond James cut their price target on Abbott Laboratories from $ 143.00 to $ 135.00 and set an “outperform” rating for the company in a research note on Thursday, April 21st. Wells Fargo & Company cut their price target on Abbott Laboratories from $ 155.00 to $ 150.00 and set an “overweight” rating for the company in a research note on Friday, April 8th. Finally, Citigroup dropped their price objective on Abbott Laboratories from $ 154.00 to $ 125.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $ 139.64.
In other news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $ 113.22, for a total value of $ 5,661,000.00. Following the completion of the transaction, the director now owns 6,973,500 shares in the company, valued at approximately $ 789,539,670. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Randel William Woodgrift sold 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $ 113.00, for a total value of $ 2,712,000.00. Following the completion of the transaction, the senior vice president now owns 47,854 shares of the company stock, valued at approximately $ 5,407,502. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
NYSE: ABT opened at $ 109.08 on Tuesday. The stock has a market cap of $ 190.99 billion, a P / E ratio of 25.31, a PEG ratio of 3.95 and a beta of 0.73. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a twelve month low of $ 101.24 and a twelve month high of $ 142.60. The business’s 50-day moving average price is $ 112.40 and its two-hundred day moving average price is $ 120.96.
Abbott Laboratories (NYSE: ABT – Get Rating) last announced its quarterly earnings data on Wednesday, April 20th. The healthcare product maker reported $ 1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $ 1.47 by $ 0.26. The company had revenue of $ 11.90 billion for the quarter, compared to analysts’ expectations of $ 11 billion. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. Abbott Laboratories’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $ 1.32 EPS. On average, equities research analysts expect that Abbott Laboratories will post 4.84 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be given a dividend of $ 0.47 per share. The ex-dividend date is Thursday, July 14th. This represents a $ 1.88 annualized dividend and a yield of 1.72%. Abbott Laboratories’s payout ratio is 43.62%.
Abbott Laboratories Company 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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