Sheets Smith Wealth Management lifted its position in Abbott Laboratories (NYSE:ABT) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,047 shares of the healthcare product maker’s stock after acquiring an additional 3,416 shares during the period. Sheets Smith Wealth Management’s holdings in Abbott Laboratories were worth $1,739,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC purchased a new position in Abbott Laboratories during the second quarter valued at approximately $759,000. Flagship Harbor Advisors LLC grew its position in Abbott Laboratories by 16.4% during the second quarter. Flagship Harbor Advisors LLC now owns 13,433 shares of the healthcare product maker’s stock valued at $819,000 after purchasing an additional 1,897 shares in the last quarter. Impax Asset Management LLC grew its position in Abbott Laboratories by 11.4% during the second quarter. Impax Asset Management LLC now owns 20,627 shares of the healthcare product maker’s stock valued at $1,258,000 after purchasing an additional 2,119 shares in the last quarter. Signaturefd LLC grew its position in Abbott Laboratories by 12.4% during the second quarter. Signaturefd LLC now owns 15,315 shares of the healthcare product maker’s stock valued at $934,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Aristotle Atlantic Partners LLC grew its position in Abbott Laboratories by 251.5% during the second quarter. Aristotle Atlantic Partners LLC now owns 16,878 shares of the healthcare product maker’s stock valued at $1,029,000 after purchasing an additional 12,076 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Abbott Laboratories stock traded down $0.21 on Friday, reaching $68.87. The stock had a trading volume of 2,142,179 shares, compared to its average volume of 7,140,442. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a fifty-two week low of $55.58 and a fifty-two week high of $74.92. The stock has a market capitalization of $121.96 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.86 and a beta of 1.24.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.86%. 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 payout ratio is presently 44.80%.
In other news, insider Jared Watkin sold 65,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $71.00, for a total value of $4,615,000.00. Following the completion of the sale, the insider now directly owns 128,640 shares in the company, valued at $9,133,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Miles D. White sold 142,341 shares of the business’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the completion of the sale, the chairman now owns 3,459,185 shares of the company’s stock, valued at $250,272,034.75. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.
A number of brokerages recently commented on ABT. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday, December 4th. Goldman Sachs Group raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $81.00 in a research report on Friday, November 30th. Citigroup downgraded shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $72.00 to $68.00 in a research report on Wednesday, January 2nd. Zacks Investment Research cut shares of Abbott Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Finally, Cowen lifted their target price on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research note on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $76.86.
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Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, Cardiovascular and Neuromodulation Products, and Other.
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