Kidder Stephen W boosted its position in Abbott Laboratories (NYSE:ABT) by 8.2% during the third quarter, Holdings Channel reports. The fund owned 130,115 shares of the healthcare product maker’s stock after buying an additional 9,835 shares during the period. Abbott Laboratories makes up 2.2% of Kidder Stephen W’s investment portfolio, making the stock its 18th largest position. Kidder Stephen W’s holdings in Abbott Laboratories were worth $5,503,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Patten Group Inc. raised its stake in shares of Abbott Laboratories by 66.0% in the third quarter. Patten Group Inc. now owns 2,516 shares of the healthcare product maker’s stock worth $103,000 after buying an additional 1,000 shares during the last quarter. Kanaly Trust Co raised its stake in shares of Abbott Laboratories by 3.7% in the third quarter. Kanaly Trust Co now owns 2,584 shares of the healthcare product maker’s stock worth $109,000 after buying an additional 91 shares during the last quarter. Guidant Wealth Advisors purchased a new stake in shares of Abbott Laboratories during the third quarter worth approximately $130,000. Bruderman Asset Management LLC raised its stake in shares of Abbott Laboratories by 0.3% in the third quarter. Bruderman Asset Management LLC now owns 3,124 shares of the healthcare product maker’s stock worth $132,000 after buying an additional 10 shares during the last quarter. Finally, Apriem Advisors raised its stake in shares of Abbott Laboratories by 4.2% in the third quarter. Apriem Advisors now owns 3,419 shares of the healthcare product maker’s stock worth $145,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 62.20% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at 42.74 on Monday. Abbott Laboratories has a 52-week low of $36.76 and a 52-week high of $45.79. The firm’s 50 day moving average price is $40.75 and its 200 day moving average price is $41.17. The firm has a market cap of $62.93 billion, a price-to-earnings ratio of 45.61 and a beta of 0.97.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Monday, February 6th. The healthcare product maker reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. The company earned $5.33 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Abbott Laboratories had a return on equity of 15.74% and a net margin of 6.71%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post $2.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be paid a dividend of $0.265 per share. The ex-dividend date is Wednesday, January 11th. This represents a $1.06 annualized dividend and a yield of 2.48%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.26. Abbott Laboratories’s dividend payout ratio (DPR) is currently 113.98%.
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A number of equities analysts have issued reports on ABT shares. Jefferies Group LLC raised their target price on Abbott Laboratories from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, January 20th. TheStreet cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 2nd. Royal Bank Of Canada reduced their target price on Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, January 26th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 11th. Finally, RBC Capital Markets reduced their target price on Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, January 26th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.15.
In related news, insider Heather L. Mason sold 35,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $40.77, for a total transaction of $1,455,489.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at $4,084,705.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Blaser bought 15,580 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The shares were acquired at an average cost of $38.45 per share, with a total value of $599,051.00. Following the purchase, the insider now directly owns 129,782 shares of the company’s stock, valued at $4,990,117.90. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.
About Abbott Laboratories
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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