SlateStone Wealth LLC Purchases Shares of 9,275 Abbott Laboratories (ABT)
SlateStone Wealth LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,275 shares of the healthcare product maker’s stock, valued at approximately $671,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Oregon Public Employees Retirement Fund lifted its position 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 buying an additional 29,702,943 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Abbott Laboratories by 102,159.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock valued at $1,997,943,000 after buying an additional 27,208,125 shares during the last quarter. Capital International Investors lifted its position in shares of Abbott Laboratories by 257.0% during the 3rd quarter. Capital International Investors now owns 19,869,687 shares of the healthcare product maker’s stock valued at $1,457,640,000 after buying an additional 14,303,610 shares during the last quarter. Matthew Goff Investment Advisor LLC lifted its position in shares of Abbott Laboratories by 5,999.0% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 6,418,950 shares of the healthcare product maker’s stock valued at $105,246,000 after buying an additional 6,313,704 shares during the last quarter. Finally, BlackRock Inc. lifted its position 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 buying an additional 3,842,101 shares during the last quarter. 75.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, March 19th. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a report on Thursday, March 14th. Barclays set a $84.00 price objective on Abbott Laboratories and gave the stock a “buy” rating in a report on Friday, March 8th. Bank of America reissued a “buy” rating and set a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a report on Thursday, February 7th. Finally, Argus increased their price objective on Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a report on Friday, January 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.18.
ABT opened at $78.97 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.20 and a current ratio of 1.62. Abbott Laboratories has a 1 year low of $56.81 and a 1 year high of $80.74. The company has a market cap of $138.18 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.09 and a beta of 1.13.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Research analysts forecast that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is presently 44.44%.
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Abbott Laboratories 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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