Northwest Investment Counselors LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 28,928 shares of the healthcare product maker’s stock after selling 164 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Abbott Laboratories were worth $2,092,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Csenge Advisory Group purchased a new position in Abbott Laboratories during the 3rd quarter worth $31,000. Brand Asset Management Group Inc. boosted its holdings in Abbott Laboratories by 66.7% during the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. Cornerstone Advisors Inc. boosted its holdings in shares of Abbott Laboratories by 33.2% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,199 shares of the healthcare product maker’s stock worth $87,000 after buying an additional 299 shares during the last quarter. NuWave Investment Management LLC boosted its holdings in shares of Abbott Laboratories by 402.4% in the 4th quarter. NuWave Investment Management LLC now owns 1,281 shares of the healthcare product maker’s stock worth $93,000 after buying an additional 1,026 shares during the last quarter. Finally, NewSquare Capital LLC boosted its holdings in shares of Abbott Laboratories by 14.2% in the 4th quarter. NewSquare Capital LLC now owns 1,290 shares of the healthcare product maker’s stock worth $93,000 after buying an additional 160 shares during the last quarter. 74.36% of the stock is currently owned by hedge funds and other institutional investors.
ABT stock opened at $73.33 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $128.79 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.95 and a beta of 1.14. Abbott Laboratories has a 1-year low of $55.58 and a 1-year high of $74.92.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.75%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, January 14th. Abbott Laboratories’s dividend payout ratio is 44.44%.
A number of equities research analysts recently issued reports on ABT shares. Credit Suisse Group started coverage on Abbott Laboratories in a research note on Monday, December 17th. They issued an “outperform” rating and a $82.00 price objective on the stock. Barclays started coverage on Abbott Laboratories in a research note on Monday, October 15th. They issued an “overweight” rating and a $80.00 price objective on the stock. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. Argus boosted their price objective on Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a research note on Friday, January 25th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their price objective on Abbott Laboratories from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $79.48.
In related news, insider Jaime Contreras sold 177,457 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total value of $12,421,990.00. Following the transaction, the insider now directly owns 100,985 shares in the company, valued at $7,068,950. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John G. Stratton acquired 3,455 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The stock was bought at an average price of $72.32 per share, for a total transaction of $249,865.60. Following the completion of the transaction, the director now owns 3,558 shares of the company’s stock, valued at approximately $257,314.56. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by corporate insiders.
Abbott Laboratories Company Profile
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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