M. Kraus & Co Grows Stake in Abbott Laboratories (NYSE:ABT)
M. Kraus & Co raised its stake in Abbott Laboratories (NYSE:ABT) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,272 shares of the healthcare product maker’s stock after acquiring an additional 1,115 shares during the period. Abbott Laboratories makes up 3.6% of M. Kraus & Co’s portfolio, making the stock its 12th biggest position. M. Kraus & Co’s holdings in Abbott Laboratories were worth $7,146,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Appleton Partners Inc. MA lifted its holdings in Abbott Laboratories by 0.5% in the third quarter. Appleton Partners Inc. MA now owns 24,589 shares of the healthcare product maker’s stock valued at $2,057,000 after acquiring an additional 123 shares during the period. Circle Wealth Management LLC lifted its holdings in Abbott Laboratories by 3.8% in the third quarter. Circle Wealth Management LLC now owns 3,468 shares of the healthcare product maker’s stock valued at $290,000 after acquiring an additional 126 shares during the period. Simon Quick Advisors LLC lifted its holdings in Abbott Laboratories by 4.0% in the fourth quarter. Simon Quick Advisors LLC now owns 3,302 shares of the healthcare product maker’s stock valued at $287,000 after acquiring an additional 127 shares during the period. RKL Wealth Management LLC lifted its holdings in Abbott Laboratories by 3.5% in the third quarter. RKL Wealth Management LLC now owns 3,757 shares of the healthcare product maker’s stock valued at $316,000 after acquiring an additional 128 shares during the period. Finally, Boltwood Capital Management lifted its holdings in Abbott Laboratories by 0.5% in the third quarter. Boltwood Capital Management now owns 27,789 shares of the healthcare product maker’s stock valued at $2,325,000 after acquiring an additional 130 shares during the period. 73.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the company. William Blair reissued an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Morgan Stanley increased their target price on Abbott Laboratories from $93.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Raymond James lowered their target price on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Evercore ISI downgraded Abbott Laboratories from an “outperform” rating to an “in-line” rating in a report on Thursday, January 2nd. Finally, Credit Suisse Group raised their price objective on Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $91.42.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, January 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.65%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio (DPR) is currently 50.00%.
In other Abbott Laboratories news, SVP Randel William Woodgrift sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the completion of the transaction, the senior vice president now owns 68,562 shares in the company, valued at approximately $5,521,983.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.
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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