Pacific Global Investment Management CO decreased its position in Abbott Laboratories (NYSE:ABT) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,794 shares of the healthcare product maker’s stock after selling 654 shares during the period. Pacific Global Investment Management CO’s holdings in Abbott Laboratories were worth $991,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new stake in Abbott Laboratories during the fourth quarter worth $29,827,000. Freestone Capital Holdings LLC raised its stake in shares of Abbott Laboratories by 221.3% in the fourth quarter. Freestone Capital Holdings LLC now owns 25,278 shares of the healthcare product maker’s stock valued at $971,000 after buying an additional 17,410 shares during the period. Drexel Morgan & Co. raised its stake in shares of Abbott Laboratories by 3.4% in the fourth quarter. Drexel Morgan & Co. now owns 19,786 shares of the healthcare product maker’s stock valued at $760,000 after buying an additional 650 shares during the period. Janus Capital Management LLC raised its stake in shares of Abbott Laboratories by 3.6% in the fourth quarter. Janus Capital Management LLC now owns 330,248 shares of the healthcare product maker’s stock valued at $12,684,000 after buying an additional 11,529 shares during the period. Finally, Moloney Securities Asset Management LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $951,000. Institutional investors own 62.20% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded down 1.02% during midday trading on Friday, hitting $43.53. 7,519,813 shares of the company traded hands. The stock has a market capitalization of $75.22 billion, a P/E ratio of 46.46 and a beta of 0.97. Abbott Laboratories has a 52 week low of $36.76 and a 52 week high of $45.84. The company has a 50-day moving average price of $44.52 and a 200-day moving average price of $41.64. Abbott Laboratories also was the target of unusually large options trading activity on Tuesday. Traders acquired 10,359 put options on the company. This is an increase of 892% compared to the typical daily volume of 1,044 put options.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.05. Abbott Laboratories had a net margin of 6.71% and a return on equity of 15.74%. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post $2.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be paid a dividend of $0.265 per share. The ex-dividend date is Tuesday, April 11th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.44%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 113.98%.
Several analysts have commented on the stock. Jefferies Group LLC lowered their price objective on shares of Abbott Laboratories from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley restated an “equal weight” rating and issued a $42.00 price objective on shares of Abbott Laboratories in a report on Wednesday. Barclays PLC raised their price objective on shares of Abbott Laboratories from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 target price on shares of Abbott Laboratories in a research note on Tuesday. Finally, Cowen and Company reaffirmed a “buy” rating and set a $48.00 target price on shares of Abbott Laboratories in a research note on Thursday, April 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus price target of $48.64.
In other news, insider Heather L. Mason sold 35,700 shares of the company’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $40.77, for a total transaction of $1,455,489.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $4,084,705.53. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Warmuth sold 3,851 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $45.39, for a total transaction of $174,796.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,592 shares of company stock worth $3,400,139. Corporate insiders own 0.26% of the company’s stock.
Abbott Laboratories Company Profile
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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