Comprehensive Portfolio Management LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,891 shares of the healthcare product maker’s stock, valued at approximately $279,000.
Other large investors have also modified their holdings of the company. Rowland & Co. Investment Counsel ADV acquired a new stake in Abbott Laboratories in the 4th quarter worth about $102,000. Tributary Capital Management LLC acquired a new stake in Abbott Laboratories in the 3rd quarter worth about $106,000. Heritage Trust Co boosted its stake in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after buying an additional 370 shares during the last quarter. Finally, Motco boosted its stake in Abbott Laboratories by 213.7% in the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 1,962 shares during the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (NYSE ABT) opened at $59.12 on Wednesday. The company has a market capitalization of $105,076.91, a PE ratio of 227.39, a P/E/G ratio of 1.81 and a beta of 1.56. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is currently 430.79%.
In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total transaction of $122,790.56. Following the sale, the insider now directly owns 25,618 shares in the company, valued at approximately $1,437,682.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the sale, the chairman now owns 3,677,913 shares in the company, valued at $200,115,246.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,439 shares of company stock worth $19,306,683. Company insiders own 0.76% of the company’s stock.
ABT has been the topic of a number of research analyst reports. Bank of America raised their price target on Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Barclays reissued a “buy” rating and issued a $66.00 price target on shares of Abbott Laboratories in a research note on Monday, January 8th. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $65.47.
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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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