Bartlett & Co. LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 879,015 shares of the healthcare product maker’s stock after selling 18,145 shares during the quarter. Abbott Laboratories accounts for approximately 2.0% of Bartlett & Co. LLC’s investment portfolio, making the stock its 11th biggest holding. Bartlett & Co. LLC’s holdings in Abbott Laboratories were worth $50,165,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in ABT. Gratus Capital LLC increased its holdings in Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after acquiring an additional 1,869 shares during the last quarter. Moody Lynn & Lieberson LLC increased its holdings in Abbott Laboratories by 17.1% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock worth $17,420,000 after acquiring an additional 47,610 shares during the last quarter. Vantage Investment Advisors LLC increased its holdings in Abbott Laboratories by 103.4% in the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after acquiring an additional 36,683 shares during the last quarter. Brightworth purchased a new stake in Abbott Laboratories in the 3rd quarter worth about $841,000. Finally, RKL Wealth Management LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth about $227,000. 70.61% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Barclays lifted their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Guggenheim reissued a “buy” rating and issued a $72.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Royal Bank of Canada reissued a “buy” rating and issued a $67.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Leerink Swann reissued a “market perform” rating and issued a $68.00 price objective (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Citigroup lifted their price objective on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $65.47.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. equities research analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.86%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 107.69%.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares in the company, valued at approximately $572,900.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephen R. Fussell sold 13,313 shares of Abbott Laboratories stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total value of $836,588.92. Following the sale, the executive vice president now owns 152,343 shares of the company’s stock, valued at approximately $9,573,234.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 350,592 shares of company stock valued at $19,426,949. Corporate insiders own 0.76% of the company’s stock.
About Abbott Laboratories
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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