Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in Abbott Laboratories (NYSE:ABT) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,927 shares of the healthcare product maker’s stock after selling 155 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Abbott Laboratories were worth $9,808,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth about $38,000. Marquette Asset Management LLC boosted its position in shares of Abbott Laboratories by 173.4% in the 3rd quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock worth $40,000 after purchasing an additional 300 shares in the last quarter. Canton Hathaway LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $42,000. Corbenic Partners LLC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $42,000. Finally, Manchester Financial Inc. bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $52,000. 73.61% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on ABT shares. Raymond James increased their price objective on shares of Abbott Laboratories from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday. UBS Group increased their price objective on shares of Abbott Laboratories from $99.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $93.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price objective on shares of Abbott Laboratories from to in a research report on Thursday. Finally, ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $95.20.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.95. Abbott Laboratories had a net margin of 11.56% and a return on equity of 18.34%. The firm had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same period last year, the firm earned $0.81 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 3.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, January 14th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.59%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
Abbott Laboratories Company Profile
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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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