Aspen Investment Management Inc acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,745 shares of the healthcare product maker’s stock, valued at approximately $300,000.
Other institutional investors have also made changes to their positions in the company. Ancora Advisors LLC increased its position in shares of Abbott Laboratories by 55.8% in the fourth quarter. Ancora Advisors LLC now owns 70,863 shares of the healthcare product maker’s stock valued at $2,722,000 after buying an additional 25,384 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $5,189,000. Perceptive Advisors LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $1,921,000. Guggenheim Capital LLC boosted its stake in shares of Abbott Laboratories by 18.0% in the fourth quarter. Guggenheim Capital LLC now owns 999,526 shares of the healthcare product maker’s stock valued at $38,392,000 after buying an additional 152,547 shares during the period. Finally, Denver Investment Advisors LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $12,387,000. Institutional investors and hedge funds own 70.86% of the company’s stock.
Abbott Laboratories (NYSE:ABT) traded down 1.12% on Friday, hitting $48.74. The stock had a trading volume of 4,810,807 shares. The stock has a market cap of $84.68 billion, a PE ratio of 68.26 and a beta of 1.07. The firm’s 50 day moving average price is $49.15 and its 200-day moving average price is $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 posted its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post $2.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were paid a $0.265 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.17%. Abbott Laboratories’s dividend payout ratio (DPR) is 149.30%.
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Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and issued a $57.00 target price (up from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a report on Thursday. Citigroup Inc. assumed coverage on Abbott Laboratories in a report on Thursday. They issued a “neutral” rating and a $53.00 target price on the stock. Finally, BidaskClub cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $52.14.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at $10,963,656. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jared Watkin sold 552 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the transaction, the insider now owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,252 shares of company stock valued at $19,878,958. Insiders own 0.76% of the company’s stock.
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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