Culbertson A N & Co. Inc. raised its holdings in Abbott Laboratories (NYSE:ABT) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,356 shares of the healthcare product maker’s stock after acquiring an additional 1,047 shares during the period. Abbott Laboratories makes up 1.8% of Culbertson A N & Co. Inc.’s investment portfolio, making the stock its 20th largest position. Culbertson A N & Co. Inc.’s holdings in Abbott Laboratories were worth $6,355,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Rowland & Co. Investment Counsel ADV bought a new position in shares of Abbott Laboratories during the 4th quarter valued at about $102,000. Tributary Capital Management LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $106,000. Heritage Trust Co increased its position in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares during the last quarter. Thompson Davis & CO. Inc. increased its position in shares of Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares during the last quarter. Finally, Motco increased its position in shares of Abbott Laboratories by 213.7% during the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock valued at $140,000 after purchasing an additional 1,962 shares during the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.
In other Abbott Laboratories news, EVP Stephen R. Fussell sold 13,313 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total value of $836,588.92. Following the completion of the sale, the executive vice president now owns 152,343 shares in the company, valued at approximately $9,573,234.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Miles D. White sold 276,886 shares of the 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 completion of the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 350,592 shares of company stock valued at $19,426,949. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same quarter last year, the business posted $0.65 EPS. The business’s revenue was up 42.3% on a year-over-year basis. sell-side analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 430.79%.
ABT has been the topic of several recent research reports. Bank of America increased their price objective on Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Barclays reiterated a “buy” rating and set a $66.00 price objective on shares of Abbott Laboratories in a research report on Monday, January 8th. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $65.47.
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Abbott Laboratories 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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