Noesis Capital Mangement Corp Takes Position in Abbott Laboratories (ABT)
Noesis Capital Mangement Corp purchased a new stake in Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent filing with the SEC. The firm purchased 3,894 shares of the healthcare product maker’s stock, valued at approximately $208,000.
Several other large investors have also recently made changes to their positions in ABT. Capital Research Global Investors raised its position in shares of Abbott Laboratories by 45.7% in the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after acquiring an additional 14,918,038 shares during the period. Janus Henderson Group PLC raised its position in shares of Abbott Laboratories by 3,373.9% in the 2nd quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after acquiring an additional 7,647,798 shares during the period. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after acquiring an additional 3,241,063 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Abbott Laboratories by 28.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after acquiring an additional 2,606,404 shares during the period. Finally, Boston Partners raised its holdings in Abbott Laboratories by 28.1% during the 2nd quarter. Boston Partners now owns 10,516,502 shares of the healthcare product maker’s stock worth $511,207,000 after buying an additional 2,304,467 shares during the period. Institutional investors and hedge funds own 71.15% of the company’s stock.
In related news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total value of $5,430,054.63. Following the completion of the transaction, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the transaction, the insider now directly owns 10,256 shares of the company’s stock, valued at $572,900.16. The disclosure for this sale can be found here. Insiders sold 501,172 shares of company stock valued at $27,533,150 over the last three months. 0.76% of the stock is owned by company insiders.
Abbott Laboratories (NYSE:ABT) opened at $58.84 on Friday. The firm has a market cap of $102,420.00, a P/E ratio of 48.63, a PEG ratio of 1.88 and a beta of 1.55. Abbott Laboratories has a 52 week low of $39.25 and a 52 week 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 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period last year, the business earned $0.59 earnings per share. The firm’s revenue was up 28.8% on a year-over-year basis. equities research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The company 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 $0.28 dividend. The ex-dividend date is Thursday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 87.60%.
Several analysts have commented on the stock. Royal Bank of Canada restated a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a report on Tuesday. Barclays restated a “buy” rating and set a $66.00 target price on shares of Abbott Laboratories in a report on Monday, January 8th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Evercore ISI assumed coverage on shares of Abbott Laboratories in a report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 target price on the stock in a report on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $60.24.
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Abbott Laboratories Company 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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