Carderock Capital Management Inc. Raises Position in Abbott Laboratories (NYSE:ABT)

Carderock Capital Management Inc. grew its position in Abbott Laboratories (NYSE:ABTFree Report) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,842 shares of the healthcare product maker’s stock after acquiring an additional 189 shares during the period. Carderock Capital Management Inc.’s holdings in Abbott Laboratories were worth $5,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zevenbergen Capital Investments LLC lifted its stake in shares of Abbott Laboratories by 0.6% in the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after purchasing an additional 130 shares during the period. Rockland Trust Co. lifted its stake in shares of Abbott Laboratories by 1.5% in the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after purchasing an additional 1,343 shares during the period. VisionPoint Advisory Group LLC lifted its stake in shares of Abbott Laboratories by 7.4% in the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock valued at $301,000 after purchasing an additional 215 shares during the period. Gradient Investments LLC lifted its stake in shares of Abbott Laboratories by 4.7% in the fourth quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock valued at $28,344,000 after purchasing an additional 11,508 shares during the period. Finally, Boston Partners lifted its stake in shares of Abbott Laboratories by 634.6% in the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock valued at $2,882,000 after purchasing an additional 25,707 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ABT shares. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Citigroup lifted their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays lifted 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. Raymond James lifted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.92.

Check Out Our Latest Stock Report on ABT

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $111.31 on Thursday. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The firm has a 50 day simple moving average of $115.03 and a 200-day simple moving average of $106.77. The firm has a market cap of $193.14 billion, a PE ratio of 34.14, a P/E/G ratio of 2.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. Abbott Laboratories’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is currently 67.48%.

Abbott Laboratories 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.

See Also

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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