Abbott Laboratories (NYSE:ABT) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC grew its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 965,532 shares of the healthcare product maker’s stock after purchasing an additional 9,965 shares during the quarter. DAVENPORT & Co LLC’s holdings in Abbott Laboratories were worth $106,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $28,000. Cornerstone Planning Group LLC acquired a new stake in Abbott Laboratories during the second quarter worth approximately $28,000. Halpern Financial Inc. purchased a new position in shares of Abbott Laboratories during the third quarter worth approximately $26,000. CGC Financial Services LLC purchased a new position in shares of Abbott Laboratories during the second quarter worth approximately $32,000. Finally, FWL Investment Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ABT shares. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Citigroup raised their target price on shares of Abbott Laboratories from $123.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Barclays raised their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Royal Bank of Canada restated an “outperform” rating and set a $128.00 target price on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

Check Out Our Latest Report on ABT

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded down $0.07 on Tuesday, reaching $112.02. 4,559,539 shares of the company were exchanged, compared to its average volume of 5,700,051. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The firm has a market cap of $194.37 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.74 and a beta of 0.74. The company has a 50-day moving average of $115.06 and a 200-day moving average of $106.67.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.96%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 67.48%.

Insider Buying and Selling

In related news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares in the company, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock worth $6,451,298 in the last three months. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Company Profile

(Free Report)

Abbott Laboratories, together with its subsidiaries, 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 company 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, Ménière'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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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