WASHINGTON TRUST Co lifted its holdings in Abbott Laboratories (NYSE:ABT) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,110 shares of the healthcare product maker’s stock after acquiring an additional 421 shares during the quarter. WASHINGTON TRUST Co’s holdings in Abbott Laboratories were worth $17,270,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in ABT. Schonfeld Strategic Advisors LLC increased its stake in shares of Abbott Laboratories by 475.8% in the third quarter. Schonfeld Strategic Advisors LLC now owns 57,580 shares of the healthcare product maker’s stock worth $6,266,000 after acquiring an additional 47,580 shares during the period. Private Trust Co. NA grew its position in Abbott Laboratories by 2.1% during the fourth quarter. Private Trust Co. NA now owns 43,544 shares of the healthcare product maker’s stock valued at $4,767,000 after buying an additional 914 shares during the period. Capital Investment Services of America Inc. grew its position in Abbott Laboratories by 32.3% during the fourth quarter. Capital Investment Services of America Inc. now owns 4,424 shares of the healthcare product maker’s stock valued at $484,000 after buying an additional 1,081 shares during the period. Woodstock Corp grew its position in Abbott Laboratories by 3.3% during the fourth quarter. Woodstock Corp now owns 124,263 shares of the healthcare product maker’s stock valued at $13,606,000 after buying an additional 4,016 shares during the period. Finally, Fulton Bank N.A. grew its position in Abbott Laboratories by 1.5% during the fourth quarter. Fulton Bank N.A. now owns 18,423 shares of the healthcare product maker’s stock valued at $2,017,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.
Several research firms recently commented on ABT. Credit Suisse Group raised their price target on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 28th. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Tuesday, April 20th. Atlantic Securities initiated coverage on shares of Abbott Laboratories in a report on Wednesday, April 21st. They set a “neutral” rating and a $122.00 price objective on the stock. Raymond James increased their price objective on shares of Abbott Laboratories from $126.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, March 17th. Finally, Morgan Stanley increased their price objective on shares of Abbott Laboratories from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, April 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $126.06.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The firm had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.72 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, sell-side analysts expect that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 55.56%.
In related news, EVP Andrea F. Wainer sold 6,200 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $121.79, for a total value of $755,098.00. Following the completion of the transaction, the executive vice president now owns 51,550 shares in the company, valued at $6,278,274.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelle Kumbier purchased 2,040 shares of the firm’s stock in a transaction that occurred on Tuesday, February 23rd. The stock was purchased at an average price of $122.50 per share, with a total value of $249,900.00. The disclosure for this purchase can be found here. Insiders sold 8,726 shares of company stock valued at $1,064,230 in the last 90 days. Company insiders own 1.70% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, MÃ©niÃ¨re's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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