Matthew Goff Investment Advisor LLC Has $5.45 Million Holdings in Abbott Laboratories (ABT)
Matthew Goff Investment Advisor LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,124 shares of the healthcare product maker’s stock after acquiring an additional 3,849 shares during the quarter. Abbott Laboratories comprises approximately 2.3% of Matthew Goff Investment Advisor LLC’s holdings, making the stock its 14th largest position. Matthew Goff Investment Advisor LLC’s holdings in Abbott Laboratories were worth $5,449,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Gratus Capital LLC lifted its stake in Abbott Laboratories by 0.9% in 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. Vantage Investment Advisors LLC lifted its stake in Abbott Laboratories by 103.4% in 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. Zurich Insurance Group Ltd FI lifted its stake in Abbott Laboratories by 2.5% in the second quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock valued at $11,708,000 after acquiring an additional 5,790 shares during the last quarter. Amalgamated Bank lifted its stake in Abbott Laboratories by 57.6% in the second quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock valued at $9,295,000 after acquiring an additional 69,871 shares during the last quarter. Finally, RKL Wealth Management LLC acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $227,000. Hedge funds and other institutional investors own 71.19% of the company’s stock.
A number of analysts have recently weighed in on ABT shares. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, October 10th. Jefferies Group restated a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 19th. Cowen restated a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, September 24th. Bank of America restated a “buy” rating and issued a $60.00 price objective (up from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $60.24.
In related news, Chairman Miles D. White sold 276,886 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the transaction, the chairman now directly owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the transaction, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,172 shares of company stock valued at $27,533,150. Corporate insiders own 0.76% of the company’s stock.
Abbott Laboratories (ABT) opened at $58.84 on Tuesday. The company has a market cap of $102,416.96, a price-to-earnings ratio of 46.33, a P/E/G ratio of 1.87 and a beta of 1.06. Abbott Laboratories has a one year low of $39.25 and a one year high of $59.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. equities analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.28 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is presently 88.19%.
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Abbott Laboratories Profile
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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