Abbott Laboratories (ABT) Shares Bought by Dupont Capital Management Corp
Dupont Capital Management Corp grew its position in Abbott Laboratories (NYSE:ABT) by 74.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 333,388 shares of the healthcare product maker’s stock after purchasing an additional 141,973 shares during the period. Dupont Capital Management Corp’s holdings in Abbott Laboratories were worth $19,026,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Gratus Capital LLC boosted its stake in shares of Abbott Laboratories by 0.9% during the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after acquiring an additional 1,869 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its stake in shares of Abbott Laboratories by 17.1% during the third quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock valued at $17,420,000 after acquiring an additional 47,610 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Abbott Laboratories during the third quarter valued at $47,713,000. Vantage Investment Advisors LLC boosted its stake in shares of Abbott Laboratories by 103.4% during the second quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after acquiring an additional 36,683 shares during the last quarter. Finally, Brightworth acquired a new stake in shares of Abbott Laboratories during the third quarter valued at $841,000. Institutional investors and hedge funds own 70.01% of the company’s stock.
ABT has been the topic of a number of analyst reports. Bank of America increased their price objective on Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Barclays reaffirmed a “buy” rating and set a $66.00 price objective on shares of Abbott Laboratories in a research note on Monday, January 8th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $65.47.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The company’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. equities research analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.28 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.88%. Abbott Laboratories’s dividend payout ratio (DPR) is 430.79%.
In other news, SVP Jared Watkin sold 996 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $58.87, for a total value of $58,634.52. Following the transaction, the senior vice president now directly owns 69,511 shares in the company, valued at approximately $4,092,112.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sharon J. Bracken sold 1,053 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $58.93, for a total value of $62,053.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 416,104 shares of company stock worth $23,352,057. Company insiders own 0.76% of the company’s stock.
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About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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