Boenning & Scattergood Inc. Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)
Boenning & Scattergood Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,803 shares of the healthcare product maker’s stock after purchasing an additional 1,597 shares during the period. Abbott Laboratories comprises approximately 1.2% of Boenning & Scattergood Inc.’s portfolio, making the stock its 14th largest position. Boenning & Scattergood Inc.’s holdings in Abbott Laboratories were worth $4,760,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ABT. 1 North Wealth Services LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $38,000. Marquette Asset Management LLC raised its holdings in shares of Abbott Laboratories by 173.4% in the third quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after buying an additional 300 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $42,000. Corbenic Partners LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $42,000. Finally, Atwater Malick LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $65,000. 73.59% of the stock is owned by institutional investors and hedge funds.
Shares of Abbott Laboratories stock traded up $1.69 on Wednesday, reaching $87.43. 1,879,456 shares of the stock were exchanged, compared to its average volume of 5,479,729. Abbott Laboratories has a 1-year low of $68.36 and a 1-year high of $89.24. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average price of $86.06 and a two-hundred day moving average price of $84.55. The firm has a market capitalization of $150.96 billion, a PE ratio of 30.36, a PEG ratio of 2.16 and a beta of 1.12.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 14th. Abbott Laboratories’s payout ratio is 44.44%.
In other news, SVP Randel William Woodgrift sold 21,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the transaction, the senior vice president now directly owns 68,562 shares in the company, valued at $5,521,983.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.
A number of equities research analysts have recently commented on ABT shares. Raymond James reduced their target price on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 14th. William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $93.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup cut shares of Abbott Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, January 2nd. Finally, Guggenheim cut shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $91.42.
Abbott Laboratories Company Profile
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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