Dynasty Wealth Management LLC acquired a new stake in Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,768 shares of the healthcare product maker’s stock, valued at approximately $350,000.
Several other hedge funds have also recently bought and sold shares of ABT. Schulhoff & Co. Inc. boosted its position in Abbott Laboratories by 2.6% during the 3rd quarter. Schulhoff & Co. Inc. now owns 27,799 shares of the healthcare product maker’s stock valued at $2,039,000 after purchasing an additional 715 shares during the period. Cadence Bank NA boosted its stake in shares of Abbott Laboratories by 1.7% during the 3rd quarter. Cadence Bank NA now owns 44,526 shares of the healthcare product maker’s stock worth $3,267,000 after acquiring an additional 735 shares in the last quarter. National Asset Management Inc. boosted its stake in shares of Abbott Laboratories by 3.6% during the 3rd quarter. National Asset Management Inc. now owns 21,390 shares of the healthcare product maker’s stock worth $1,570,000 after acquiring an additional 749 shares in the last quarter. Grassi Investment Management boosted its stake in Abbott Laboratories by 0.6% during the 3rd quarter. Grassi Investment Management now owns 123,859 shares of the healthcare product maker’s stock valued at $9,086,000 after purchasing an additional 776 shares during the period. Finally, City Holding Co. boosted its stake in Abbott Laboratories by 1.6% during the 2nd quarter. City Holding Co. now owns 50,654 shares of the healthcare product maker’s stock valued at $3,089,000 after purchasing an additional 782 shares during the period. 72.83% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Sharon J. Bracken sold 1,732 shares of Abbott Laboratories stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $73.35, for a total transaction of $127,042.20. Following the completion of the transaction, the senior vice president now owns 39,229 shares in the company, valued at $2,877,447.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Miles D. White sold 142,341 shares of Abbott Laboratories stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $72.35, for a total value of $10,298,371.35. Following the transaction, the chairman now owns 3,459,185 shares of the company’s stock, valued at approximately $250,272,034.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,273 shares of company stock worth $19,410,942. 0.74% of the stock is owned by company insiders.
NYSE:ABT opened at $71.54 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. The stock has a market capitalization of $125.58 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.12 and a beta of 1.40. Abbott Laboratories has a 52-week low of $54.33 and a 52-week high of $74.92.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. Abbott Laboratories’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, analysts anticipate that Abbott Laboratories will post 2.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
A number of equities analysts have recently issued reports on ABT shares. Morgan Stanley increased their target price on Abbott Laboratories from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday. Goldman Sachs Group raised Abbott Laboratories from a “neutral” rating to a “buy” rating and increased their target price for the stock from $78.00 to $81.00 in a report on Friday, November 30th. UBS Group started coverage on Abbott Laboratories in a report on Tuesday, November 27th. They issued a “buy” rating and a $83.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 target price on shares of Abbott Laboratories in a report on Thursday, October 18th. Finally, Raymond James increased their target price on Abbott Laboratories from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $76.00.
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About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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