Stokes Family Office LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 5.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 31,837 shares of the healthcare product maker’s stock after acquiring an additional 1,633 shares during the quarter. Stokes Family Office LLC’s holdings in Abbott Laboratories were worth $2,512,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Bamco Inc. NY grew its stake in shares of 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 acquiring an additional 2,600 shares during the period. Cetera Advisor Networks LLC grew its stake in shares of Abbott Laboratories by 12.3% during the 4th quarter. Cetera Advisor Networks LLC now owns 40,256 shares of the healthcare product maker’s stock worth $3,491,000 after acquiring an additional 4,411 shares during the period. Fisher Asset Management LLC grew its stake in shares of Abbott Laboratories by 1,199.2% during the 1st quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock worth $281,226,000 after acquiring an additional 3,289,573 shares during the period. Capital Wealth Planning LLC grew its stake in shares of Abbott Laboratories by 6.3% during the 4th quarter. Capital Wealth Planning LLC now owns 529,600 shares of the healthcare product maker’s stock worth $46,001,000 after acquiring an additional 31,200 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Abbott Laboratories by 4.5% during the 4th quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock worth $1,222,326,000 after acquiring an additional 610,015 shares during the period. Institutional investors own 73.44% of the company’s stock.
Shares of NYSE ABT traded up $2.82 during trading hours on Friday, reaching $94.92. 10,138,477 shares of the stock traded hands, compared to its average volume of 6,674,505. The company has a market capitalization of $162.91 billion, a P/E ratio of 47.70, a price-to-earnings-growth ratio of 3.82 and a beta of 0.98. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $100.00. The company’s 50-day simple moving average is $91.59 and its two-hundred day simple moving average is $86.03.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 8th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. Abbott Laboratories’s dividend payout ratio is 44.44%.
Several research analysts have commented on the company. UBS Group raised their target price on Abbott Laboratories from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, April 16th. Barclays raised their target price on Abbott Laboratories from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Credit Suisse Group restated a “buy” rating and issued a $106.00 target price on shares of Abbott Laboratories in a research note on Friday, May 22nd. Finally, SVB Leerink cut their target price on Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating for the company in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. Abbott Laboratories 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 Abbott Laboratories stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total value of $7,360,000.00. Following the transaction, the executive vice president now directly owns 107,090 shares of the company’s stock, valued at approximately $9,852,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Ginascol sold 63,200 shares of Abbott Laboratories stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 129,645 shares in the company, valued at $12,445,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,186 shares of company stock worth $15,359,524. 1.70% of the stock is currently owned by 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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