Woodstock Corp trimmed its stake in Abbott Laboratories (NYSE:ABT) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,664 shares of the healthcare product maker’s stock after selling 599 shares during the quarter. Abbott Laboratories makes up about 1.9% of Woodstock Corp’s portfolio, making the stock its 13th biggest holding. Woodstock Corp’s holdings in Abbott Laboratories were worth $14,820,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Bangor Savings Bank grew its stake in shares of Abbott Laboratories by 2.3% in the fourth quarter. Bangor Savings Bank now owns 5,159 shares of the healthcare product maker’s stock valued at $448,000 after buying an additional 115 shares in the last quarter. Plimoth Trust Co. LLC grew its position in shares of Abbott Laboratories by 49.4% in the 4th quarter. Plimoth Trust Co. LLC now owns 18,775 shares of the healthcare product maker’s stock valued at $2,055,000 after acquiring an additional 6,207 shares during the period. Norris Perne & French LLP MI increased its stake in shares of Abbott Laboratories by 2.3% during the 4th quarter. Norris Perne & French LLP MI now owns 108,700 shares of the healthcare product maker’s stock worth $11,902,000 after purchasing an additional 2,427 shares during the last quarter. Demars Financial Group LLC raised its holdings in shares of Abbott Laboratories by 21.5% in the 4th quarter. Demars Financial Group LLC now owns 30,580 shares of the healthcare product maker’s stock valued at $3,348,000 after purchasing an additional 5,410 shares during the period. Finally, Congress Asset Management Co. MA lifted its stake in Abbott Laboratories by 1.8% in the 4th quarter. Congress Asset Management Co. MA now owns 811,289 shares of the healthcare product maker’s stock valued at $88,828,000 after purchasing an additional 14,031 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on ABT. Cowen raised their price objective on Abbott Laboratories from $113.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, January 28th. Wells Fargo & Company raised their price target on Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Tuesday, February 2nd. SVB Leerink raised their target price on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a research note on Thursday, January 28th. Finally, Credit Suisse Group upped their price target on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $122.47.
NYSE:ABT traded up $0.46 during trading hours on Thursday, reaching $120.57. 24,321 shares of the company were exchanged, compared to its average volume of 5,249,639. The business has a 50 day moving average of $119.99 and a 200 day moving average of $113.19. Abbott Laboratories has a 1-year low of $81.05 and a 1-year high of $128.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. The company has a market capitalization of $213.59 billion, a P/E ratio of 63.55, a P/E/G ratio of 2.06 and a beta of 0.83.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Tuesday, January 26th. The healthcare product maker reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $9.94 billion. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. Abbott Laboratories’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Thursday, April 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio is currently 55.56%.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, MÃ©niÃ¨re's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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