Northstar Investment Advisors LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 187,324 shares of the healthcare product maker’s stock after buying an additional 1,042 shares during the period. Northstar Investment Advisors LLC’s holdings in Abbott Laboratories were worth $8,319,000 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 bought a new stake in Abbott Laboratories during the fourth quarter valued at $218,000. Access Financial Services Inc. bought a new stake in Abbott Laboratories during the fourth quarter valued at $214,000. Westport Asset Management Inc. bought a new stake in Abbott Laboratories during the fourth quarter valued at $192,000. Norges Bank bought a new stake in Abbott Laboratories during the fourth quarter valued at $598,897,000. Finally, Sowell Financial Services LLC bought a new stake in Abbott Laboratories during the fourth quarter valued at $540,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.
Abbott Laboratories (NYSE:ABT) traded down 1.12% during midday trading on Friday, reaching $48.74. 4,810,807 shares of the company traded hands. The stock has a market capitalization of $84.68 billion, a P/E ratio of 68.26 and a beta of 1.07. The company has a 50 day moving average price of $49.15 and a 200-day moving average price of $45.95. Abbott Laboratories has a one year low of $37.38 and a one year 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. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Analysts forecast that Abbott Laboratories will post $2.49 EPS for the current fiscal 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 dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.06 dividend on an annualized basis and a yield of 2.17%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.
A number of equities analysts recently commented on ABT shares. Stifel Nicolaus reiterated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research report on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and issued a $57.00 target price (up previously from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Cowen and Company reiterated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday. Citigroup Inc. started coverage on shares of Abbott Laboratories in a research report on Thursday. They issued a “neutral” rating and a $53.00 target price on the stock. Finally, BidaskClub cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research 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. 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 Brian J. Blaser sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the transaction, the insider now directly owns 143,154 shares of the company’s stock, valued at $7,157,700. The disclosure for this sale can be found here. Insiders have sold 415,252 shares of company stock worth $19,878,958 over the last quarter. 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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