Menta Capital LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 21.3% during the fourth quarter, Holdings Channel reports. The fund owned 109,129 shares of the healthcare product maker’s stock after buying an additional 19,179 shares during the period. Menta Capital LLC’s holdings in Abbott Laboratories were worth $4,192,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. 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 valued at $103,000 after buying an additional 1,000 shares during the last quarter. Kanaly Trust Co increased its position in Abbott Laboratories by 3.7% in the third quarter. Kanaly Trust Co now owns 2,584 shares of the healthcare product maker’s stock valued at $109,000 after buying an additional 91 shares during the period. Guidant Wealth Advisors acquired a new position in Abbott Laboratories during the third quarter valued at approximately $130,000. Bruderman Asset Management LLC increased its position in 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 valued at $132,000 after buying an additional 10 shares during the period. Finally, Apriem Advisors increased its position in Abbott Laboratories by 4.2% in the third quarter. Apriem Advisors now owns 3,419 shares of the healthcare product maker’s stock valued at $145,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 62.20% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at 45.19 on Monday. The stock has a market capitalization of $78.09 billion, a P/E ratio of 48.23 and a beta of 0.97. Abbott Laboratories has a 52 week low of $36.76 and a 52 week high of $45.84. The company has a 50 day moving average of $44.15 and a 200 day moving average of $41.25.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Monday, February 6th. The healthcare product maker reported $0.65 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. Abbott Laboratories had a return on equity of 15.74% and a net margin of 6.71%. The business earned $5.33 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the prior year, the company posted $0.62 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post $2.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be paid a $0.265 dividend. The ex-dividend date is Tuesday, April 11th. This represents a $1.06 annualized dividend and a yield of 2.35%. Abbott Laboratories’s payout ratio is 113.98%.
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Several research analysts have commented on the stock. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, January 10th. BMO Capital Markets downgraded shares of Abbott Laboratories from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a research note on Tuesday, March 14th. Royal Bank of Canada decreased their price target on shares of Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, January 26th. Jefferies Group LLC lifted their price target on shares of Abbott Laboratories from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, January 20th. Finally, TheStreet downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $48.27.
In other Abbott Laboratories news, insider Michael J. Warmuth sold 3,851 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $45.39, for a total value of $174,796.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather L. Mason sold 35,700 shares of the company’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 value of $1,455,489.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $4,084,705.53. The disclosure for this sale can be found here. Insiders sold a total of 78,592 shares of company stock valued at $3,400,139 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.
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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