Everhart Financial Group Inc. lifted its holdings in shares of Abbott Laboratories (NYSE: ABT – Get Rating) by 34.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,204 shares of the healthcare product maker’s stock after acquiring an additional 1,075 shares during the period. Everhart Financial Group Inc.’s holdings in Abbott Laboratories were worth $ 498,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. AE Wealth Management LLC increased its position in shares of Abbott Laboratories by 16.8% during the first quarter. AE Wealth Management LLC now owns 183,826 shares of the healthcare product maker’s stock worth $ 21,758,000 after acquiring an additional 26,503 shares in the last quarter. Buttonwood Financial Advisors Inc. bought a new stake in shares of Abbott Laboratories during the first quarter worth about $ 285,000. Sequent Asset Management LLC increased its position in shares of Abbott Laboratories by 1.9% during the first quarter. Sequent Asset Management LLC now owns 6,201 shares of the healthcare product maker’s stock worth $ 734,000 after acquiring an additional 115 shares in the last quarter. Central Bank & Trust Co. grew its position in Abbott Laboratories by 104.9% in the 1st quarter. Central Bank & Trust Co. now owns 1,379 shares of the healthcare product maker’s stock worth $ 163,000 after purchasing an additional 706 shares in the last quarter. Finally, SkyOak Wealth LLC grew its position in Abbott Laboratories by 40.2% in the 1st quarter. SkyOak Wealth LLC now owns 3,487 shares of the healthcare product maker’s stock worth $ 413,000 after purchasing an additional 1,000 shares in the last quarter. 73.46% of the stock is owned by institutional investors.
Shares of ABT stock opened at $ 109.45 on Monday. The stock has a market capitalization of $ 191.64 billion, a P / E ratio of 25.39, a PEG ratio of 3.95 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. The firm’s 50 day moving average is $ 112.55 and its 200 day moving average is $ 121.14. Abbott Laboratories has a 12 month low of $ 101.24 and a 12 month high of $ 142.60.
Abbott Laboratories (NYSE: ABT – Get Rating) last posted its earnings results on Wednesday, April 20th. The healthcare product maker reported $ 1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.47 by $ 0.26. Abbott Laboratories had a net margin of 17.35% and a return on equity of 28.72%. The business had revenue of $ 11.90 billion for the quarter, compared to analysts’ expectations of $ 11 billion. During the same period in the prior year, the company posted $ 1.32 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts predict that Abbott Laboratories will post 4.84 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be paid a $ 0.47 dividend. This represents a $ 1.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio is presently 43.62%.
In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on 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 transaction, the director now owns 6,973,500 shares of the company stock, valued at approximately $ 789,539,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Randel William Woodgrift sold 24,000 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $ 113.00, for a total transaction of $ 2,712,000.00. Following the completion of the transaction, the senior vice president now directly owns 47,854 shares in the company, valued at approximately $ 5,407,502. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company stock.
A number of brokerages have issued reports on ABT. Morgan Stanley reduced their price objective on shares of Abbott Laboratories from $ 151.00 to $ 145.00 and set an “overweight” rating for the company in a research report on Tuesday, June 7th. StockNews.com began coverage on shares of Abbott Laboratories in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Royal Bank of Canada reduced their objective price on shares of Abbott Laboratories from $ 146.00 to $ 143.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Citigroup dropped their target price on shares of Abbott Laboratories from $ 154.00 to $ 125.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Finally, Raymond James dropped their target price on shares of Abbott Laboratories from $ 143.00 to $ 135.00 and set an “outperform” rating on the stock in a research note on Thursday, April 21st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $ 139.64.
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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