Acropolis Investment Management LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,708 shares of the healthcare product maker’s stock after acquiring an additional 250 shares during the quarter. Acropolis Investment Management LLC’s holdings in Abbott Laboratories were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also bought and sold shares of the company. 1 North Wealth Services LLC acquired a new position in Abbott Laboratories during the third quarter worth $38,000. Marquette Asset Management LLC grew its position in shares of Abbott Laboratories by 173.4% in the third quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after purchasing an additional 300 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $42,000. Atwater Malick LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $65,000. Finally, Garrett Wealth Advisory Group LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $86,000. 73.59% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Randel William Woodgrift sold 21,000 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the transaction, the senior vice president now owns 68,562 shares in the company, valued at $5,521,983.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.
Shares of ABT opened at $85.74 on Wednesday. The stock has a market cap of $150.96 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 2.16 and a beta of 1.12. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 12 month low of $68.36 and a 12 month high of $89.24. The company has a 50-day moving average price of $86.06 and a two-hundred day moving average price of $84.55.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.84. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Abbott Laboratories’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect that Abbott Laboratories will post 3.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s payout ratio is 44.44%.
Several equities research analysts have recently issued reports on the company. Raymond James lowered their price target on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Evercore ISI downgraded Abbott Laboratories from an “outperform” rating to an “in-line” rating in a research report on Thursday, January 2nd. Credit Suisse Group raised their price target on Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley raised their price target on Abbott Laboratories from $93.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Guggenheim downgraded Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $91.42.
About Abbott Laboratories
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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