Capital Bank & Trust Co raised its position in Abbott Laboratories (NYSE:ABT) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,036,601 shares of the healthcare product maker’s stock after buying an additional 71,235 shares during the quarter. Capital Bank & Trust Co’s holdings in Abbott Laboratories were worth $90,039,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the company. Cetera Advisor Networks LLC raised its holdings in shares of Abbott Laboratories by 12.3% in the fourth quarter. Cetera Advisor Networks LLC now owns 40,256 shares of the healthcare product maker’s stock valued at $3,491,000 after buying an additional 4,411 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Abbott Laboratories by 4.5% during the fourth quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock worth $1,222,326,000 after buying an additional 610,015 shares during the period. Cetera Investment Advisers grew its holdings in shares of Abbott Laboratories by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 20,124 shares of the healthcare product maker’s stock worth $1,747,000 after buying an additional 208 shares during the last quarter. Aviance Capital Partners LLC grew its holdings in shares of Abbott Laboratories by 1.6% during the fourth quarter. Aviance Capital Partners LLC now owns 8,475 shares of the healthcare product maker’s stock worth $736,000 after buying an additional 130 shares during the last quarter. Finally, NorthRock Partners LLC increased its position in Abbott Laboratories by 190.3% in the 4th quarter. NorthRock Partners LLC now owns 37,540 shares of the healthcare product maker’s stock valued at $1,005,000 after acquiring an additional 24,609 shares during the period. 75.02% of the stock is owned by institutional investors and hedge funds.
ABT traded up $3.47 on Thursday, hitting $74.22. 221,695 shares of the company were exchanged, compared to its average volume of 12,224,732. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $92.45. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.44. The firm has a market capitalization of $122.89 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. The business’s fifty day moving average is $81.95 and its 200 day moving average is $84.07.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.08. Abbott Laboratories’s payout ratio is presently 44.44%.
A number of analysts have weighed in on ABT shares. UBS Group increased their price objective on Abbott Laboratories from $99.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Co upped their price target on Abbott Laboratories from $97.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Stifel Nicolaus increased their price target on Abbott Laboratories from $95.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, February 6th. Finally, Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $93.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $96.13.
In related news, VP Philip P. Boudreau sold 10,600 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $82.00, for a total transaction of $869,200.00. Following the completion of the transaction, the vice president now directly owns 22,463 shares in the company, valued at approximately $1,841,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jared Watkin sold 8,248 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $82.00, for a total value of $676,336.00. Following the completion of the sale, the senior vice president now directly owns 68,696 shares in the company, valued at approximately $5,633,072. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 568,733 shares of company stock valued at $50,878,762. 1.70% of the stock is currently owned by company 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 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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