Trust Co. of Virginia VA decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 25,094 shares of the healthcare product maker’s stock after selling 251 shares during the period. Trust Co. of Virginia VA’s holdings in Abbott Laboratories were worth $1,981,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bamco Inc. NY grew its stake in Abbott Laboratories by 37.2% during the 4th quarter. Bamco Inc. NY now owns 9,596 shares of the healthcare product maker’s stock worth $834,000 after buying an additional 2,600 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Abbott Laboratories by 12.3% in the 4th quarter. Cetera Advisor Networks LLC now owns 40,256 shares of the healthcare product maker’s stock valued at $3,491,000 after purchasing an additional 4,411 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Abbott Laboratories by 1,199.2% in the 1st quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock valued at $281,226,000 after purchasing an additional 3,289,573 shares during the last quarter. Capital Wealth Planning LLC grew its stake in shares of Abbott Laboratories by 6.3% in the 4th quarter. Capital Wealth Planning LLC now owns 529,600 shares of the healthcare product maker’s stock valued at $46,001,000 after purchasing an additional 31,200 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Abbott Laboratories by 4.5% in the 4th quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock valued at $1,222,326,000 after purchasing an additional 610,015 shares during the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.
ABT stock traded up $0.21 during midday trading on Thursday, hitting $90.30. 4,321,287 shares of the stock were exchanged, compared to its average volume of 7,766,647. The stock’s 50-day moving average price is $89.57 and its 200-day moving average price is $85.67. The stock has a market cap of $156.05 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 3.66 and a beta of 0.98. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.43.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.35%. Abbott Laboratories’s payout ratio is 44.44%.
Several research analysts have weighed in on the company. Barclays lifted their target price on Abbott Laboratories from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. UBS Group lifted their target price on Abbott Laboratories from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Cfra lifted their target price on Abbott Laboratories from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. SVB Leerink lowered their target price on Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Finally, Goldman Sachs Group began coverage on Abbott Laboratories in a report on Wednesday, February 12th. They issued a “neutral” rating and a $96.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $99.47.
In other Abbott Laboratories news, EVP Andrew H. Lane sold 80,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the completion of the transaction, the executive vice president now owns 107,090 shares of the company’s stock, valued at $9,852,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F. Ginascol sold 63,200 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $96.00, for a total value of $6,067,200.00. Following the transaction, the executive vice president now directly owns 129,645 shares of the company’s stock, valued at approximately $12,445,920. The disclosure for this sale can be found here. Insiders have sold 166,186 shares of company stock valued at $15,359,524 in the last three months. 1.70% of the stock is currently owned by company insiders.
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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