Beaumont Financial Partners LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,906 shares of the healthcare product maker’s stock after selling 926 shares during the period. Abbott Laboratories makes up about 1.4% of Beaumont Financial Partners LLC’s portfolio, making the stock its 23rd biggest position. Beaumont Financial Partners LLC’s holdings in Abbott Laboratories were worth $8,600,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in ABT. Csenge Advisory Group purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at approximately $31,000. 1 North Wealth Services LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $33,000. Brand Asset Management Group Inc. increased its holdings in shares of Abbott Laboratories by 66.7% during the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Exane Derivatives purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $42,000. Finally, Signet Investment Advisory Group Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 74.31% of the company’s stock.
In other Abbott Laboratories news, insider Jaime Contreras sold 177,457 shares of Abbott Laboratories stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the sale, the insider now owns 100,985 shares of the company’s stock, valued at approximately $7,068,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John G. Stratton bought 3,455 shares of the stock in a transaction on Thursday, January 31st. The shares were acquired at an average cost of $72.32 per share, for a total transaction of $249,865.60. Following the purchase, the director now owns 3,558 shares in the company, valued at $257,314.56. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 198,669 shares of company stock worth $14,085,330. 0.74% of the stock is currently owned by corporate insiders.
Shares of NYSE ABT opened at $79.86 on Friday. The firm has a market capitalization of $137.43 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.09 and a beta of 1.13. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Abbott Laboratories has a one year low of $56.81 and a one year high of $80.15.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.82 billion. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. Equities research analysts expect that Abbott Laboratories will post 3.2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.28 annualized dividend and a yield of 1.60%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
Several equities analysts have recently weighed in on ABT shares. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. Goldman Sachs Group raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their target price for the company from $78.00 to $81.00 in a report on Friday, November 30th. Citigroup lowered shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and cut their target price for the company from $72.00 to $68.00 in a report on Wednesday, January 2nd. Finally, Credit Suisse Group started coverage on shares of Abbott Laboratories in a report on Monday, December 17th. They set an “outperform” rating and a $82.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $79.71.
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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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