Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,771 shares of the healthcare product maker’s stock after purchasing an additional 10,761 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Abbott Laboratories were worth $9,002,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. IFG Advisory LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $2,824,000. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $102,000. Tributary Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $106,000. Heritage Trust Co grew its holdings in shares of 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 purchasing an additional 200 shares during the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $133,000. Hedge funds and other institutional investors own 72.35% of the company’s stock.
A number of equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 9th. Evercore ISI assumed coverage on shares of Abbott Laboratories in a report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price objective on the stock. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Finally, BTIG Research lowered shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $65.47.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue was up 42.3% compared to the same quarter last year. research analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.78%. Abbott Laboratories’s payout ratio is presently 430.79%.
In related news, insider Stephen R. Fussell sold 56,401 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.61, for a total value of $3,362,063.61. Following the sale, the insider now directly owns 184,884 shares in the company, valued at approximately $11,020,935.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the completion of the sale, the insider now owns 156,587 shares in the company, valued at $9,749,106.62. The disclosure for this sale can be found here. Insiders sold a total of 124,261 shares of company stock worth $7,559,987 over the last quarter. 0.76% of the stock is currently owned by corporate insiders.
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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