Sustainable Insight Capital Management LLC acquired a new position in Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,357 shares of the healthcare product maker’s stock, valued at approximately $243,000.
Other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its holdings in Abbott Laboratories by 7,559.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock worth $416,000 after acquiring an additional 29,702,943 shares during the period. Bank of New York Mellon Corp grew its holdings in Abbott Laboratories by 102,159.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock worth $1,997,943,000 after acquiring an additional 27,208,125 shares during the period. Matthew Goff Investment Advisor LLC grew its holdings in Abbott Laboratories by 5,999.0% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 6,418,950 shares of the healthcare product maker’s stock worth $105,246,000 after acquiring an additional 6,313,704 shares during the period. BlackRock Inc. grew its holdings in Abbott Laboratories by 3.3% during the 4th quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock worth $8,755,228,000 after acquiring an additional 3,842,101 shares during the period. Finally, Sustainable Growth Advisers LP grew its holdings in Abbott Laboratories by 147.4% during the 4th quarter. Sustainable Growth Advisers LP now owns 4,390,018 shares of the healthcare product maker’s stock worth $317,530,000 after acquiring an additional 2,615,446 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.
A number of analysts have commented on the stock. Argus lifted their target price on shares of Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a report on Friday, January 25th. They noted that the move was a valuation call. Gabelli reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Wednesday, January 2nd. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, March 19th. Barclays set a $84.00 target price on shares of Abbott Laboratories and gave the stock a “buy” rating in a report on Friday, March 8th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $80.48.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.82 billion. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. Sell-side analysts expect that Abbott Laboratories will post 3.2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is presently 44.44%.
In related news, SVP Jared Watkin sold 1,391 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $78.00, for a total value of $108,498.00. Following the completion of the transaction, the senior vice president now directly owns 75,926 shares of the company’s stock, valued at approximately $5,922,228. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jaime Contreras sold 177,457 shares of the company’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the completion of the transaction, the insider now directly owns 100,985 shares of the company’s stock, valued at $7,068,950. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,021 shares of company stock valued at $20,485,856. Company insiders own 0.70% of the company’s stock.
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About Abbott Laboratories
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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