Birmingham Capital Management Co. Inc. AL increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,294 shares of the healthcare product maker’s stock after buying an additional 500 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Abbott Laboratories were worth $1,479,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Israel Discount Bank of New York GFN acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $218,000. Access Financial Services Inc. acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $214,000. Westport Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $192,000. Norges Bank acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $598,897,000. Finally, Sowell Financial Services LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $540,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.
Shares of Abbott Laboratories (NYSE ABT) traded down 1.12% on Friday, reaching $48.74. 4,810,807 shares of the company’s stock traded hands. The company has a market cap of $84.68 billion, a PE ratio of 68.26 and a beta of 1.07. The stock has a 50-day moving average price of $49.15 and a 200-day moving average price of $45.95. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 149.30%.
A number of equities analysts recently commented on ABT shares. Cowen and Company reiterated an “outperform” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research report on Saturday, April 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $51.00 price target (up previously from $50.00) on shares of Abbott Laboratories in a report on Friday, May 12th. Royal Bank Of Canada reissued a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Abbott Laboratories in a report on Tuesday, May 16th. They issued a “neutral” rating and a $45.00 price target on the stock. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, May 16th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $52.14.
In other news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jared Watkin sold 552 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,252 shares of company stock valued at $19,878,958. Corporate insiders own 0.76% of the company’s stock.
Abbott Laboratories Company 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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