Pinnacle Bank lessened its stake in Abbott Laboratories (NYSE:ABT) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,906 shares of the healthcare product maker’s stock after selling 128 shares during the quarter. Pinnacle Bank’s holdings in Abbott Laboratories were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Livingston Group Asset Management CO operating as Southport Capital Management raised its holdings in shares of Abbott Laboratories by 8.2% in the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 4,124 shares of the healthcare product maker’s stock valued at $452,000 after purchasing an additional 313 shares during the last quarter. Benson Investment Management Company Inc. boosted its position in shares of Abbott Laboratories by 0.7% in the fourth quarter. Benson Investment Management Company Inc. now owns 37,555 shares of the healthcare product maker’s stock valued at $4,112,000 after acquiring an additional 250 shares during the period. Radnor Capital Management LLC lifted its position in Abbott Laboratories by 16.6% during the fourth quarter. Radnor Capital Management LLC now owns 7,896 shares of the healthcare product maker’s stock worth $865,000 after purchasing an additional 1,125 shares during the period. Sowell Financial Services LLC lifted its position in Abbott Laboratories by 24.3% during the fourth quarter. Sowell Financial Services LLC now owns 24,555 shares of the healthcare product maker’s stock worth $2,688,000 after purchasing an additional 4,804 shares during the period. Finally, Symphony Financial Ltd. Co. lifted its holdings in shares of Abbott Laboratories by 9.8% in the fourth quarter. Symphony Financial Ltd. Co. now owns 45,563 shares of the healthcare product maker’s stock worth $4,971,000 after acquiring an additional 4,082 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors.
Shares of ABT traded up $3.66 during trading hours on Wednesday, reaching $112.50. 201,184 shares of the company’s stock traded hands, compared to its average volume of 4,973,860. The stock has a market cap of $199.39 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm’s 50 day simple moving average is $108.44 and its 200-day simple moving average is $105.00. Abbott Laboratories has a 12 month low of $61.61 and a 12 month high of $115.14.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, January 14th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.36. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
In other Abbott Laboratories news, Director Phebe N. Novakovic sold 4,790 shares of Abbott Laboratories stock in a transaction that occurred on Friday, December 4th. The stock was sold at an average price of $107.28, for a total value of $513,871.20. Following the transaction, the director now directly owns 34,446 shares of the company’s stock, valued at approximately $3,695,366.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert E. Funck sold 83,333 shares of Abbott Laboratories stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $108.83, for a total value of $9,069,130.39. Following the completion of the transaction, the chief financial officer now directly owns 265,550 shares in the company, valued at $28,899,806.50. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
A number of analysts have weighed in on ABT shares. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $113.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $118.00 price target on the stock. in a report on Tuesday, October 27th. Wells Fargo & Company increased their target price on Abbott Laboratories from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Credit Suisse Group cut their target price on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Finally, Raymond James increased their target price on Abbott Laboratories from $102.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $115.82.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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; MÃ©niÃ¨re'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.
Further Reading: 52 Week Highs
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