Abbott Laboratories (NYSE:ABT) Holdings Boosted by Dixon Hubard Feinour & Brown Inc. VA
Dixon Hubard Feinour & Brown Inc. VA grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.4% during the first quarter, Holdings Channel reports. The institutional investor owned 8,065 shares of the healthcare product maker’s stock after acquiring an additional 760 shares during the quarter. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Abbott Laboratories were worth $645,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Oregon Public Employees Retirement Fund lifted its holdings in shares of 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 valued at $416,000 after purchasing an additional 29,702,943 shares in the last quarter. Norges Bank bought a new position in shares of Abbott Laboratories during the 4th quarter valued at about $1,239,454,000. FMR LLC lifted its holdings in shares of Abbott Laboratories by 118.2% during the 4th quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock valued at $1,718,726,000 after purchasing an additional 12,871,418 shares in the last quarter. Ronna Sue Cohen lifted its holdings in shares of Abbott Laboratories by 7,636.6% during the 1st quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock valued at $6,249,000 after purchasing an additional 6,168,186 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Abbott Laboratories by 3.3% during the 4th quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock valued at $8,755,228,000 after purchasing an additional 3,842,101 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.
ABT has been the topic of several recent analyst reports. Bank of America reiterated a “buy” rating and set a $81.00 price objective on shares of Abbott Laboratories in a report on Thursday. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Monday, May 20th. Royal Bank of Canada lifted their price objective on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. Finally, Barclays set a $84.00 target price on Abbott Laboratories and gave the company a “buy” rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $80.89.
NYSE:ABT opened at $82.22 on Monday. The company has a market cap of $145.05 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 2.31 and a beta of 1.08. Abbott Laboratories has a twelve month low of $60.31 and a twelve month high of $82.86. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.61.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The firm had revenue of $7.54 billion for the quarter, compared to analyst estimates of $7.49 billion. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 EPS. Research analysts forecast that Abbott Laboratories will post 3.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.37 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. Abbott Laboratories’s payout ratio is 44.44%.
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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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