AlphaCrest Capital Management LLC trimmed its stake in Abbott Laboratories (NYSE:ABT – Get Rating) by 88.0% in the fourth quarter, Holdings Channel reports. The firm owned 8,399 shares of the healthcare product maker’s stock after selling 61,872 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Abbott Laboratories were worth $1,182,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Jackson Wealth Management LLC lifted its position in shares of Abbott Laboratories by 2.1% in the third quarter. Jackson Wealth Management LLC now owns 34,368 shares of the healthcare product maker’s stock valued at $25,000 after buying an additional 722 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $30,000. Consolidated Planning Corp acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $36,000. Altshuler Shaham Ltd acquired a new stake in Abbott Laboratories during the 3rd quarter worth approximately $46,000. Finally, Fortis Advisors LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.
In related news, SVP Randel William Woodgrift sold 964 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $118.10, for a total transaction of $113,848.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nancy Mckinstry sold 1,614 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $116.42, for a total value of $187,901.88. The disclosure for this sale can be found here. Insiders sold a total of 81,896 shares of company stock worth $9,299,454 over the last three months. 0.52% of the stock is owned by company insiders.
Abbott Laboratories (NYSE:ABT – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11 billion. During the same quarter in the previous year, the company posted $1.32 EPS. The business’s revenue was up 13.8% on a year-over-year basis. As a group, analysts forecast that Abbott Laboratories will post 4.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, April 13th. Abbott Laboratories’s dividend payout ratio is 43.62%.
Several analysts recently weighed in on the company. Credit Suisse Group lifted their price target on Abbott Laboratories from $138.00 to $139.00 and gave the stock an “outperform” rating in a report on Thursday, January 27th. Royal Bank of Canada dropped their price target on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating for the company in a report on Thursday, April 21st. Wells Fargo & Company dropped their price objective on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, April 8th. Bank of America started coverage on Abbott Laboratories in a report on Tuesday, March 1st. They issued a “buy” rating and a $140.00 price objective for the company. Finally, UBS Group lifted their price objective on Abbott Laboratories from $138.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, January 27th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $138.83.
Abbott Laboratories Profile (Get Rating)
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 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, 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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