Abbott Laboratories (ABT) Stake Raised by Sandy Spring Bank
Sandy Spring Bank grew its position in shares of Abbott Laboratories (NYSE:ABT) by 2.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 130,742 shares of the healthcare product maker’s stock after purchasing an additional 3,523 shares during the period. Sandy Spring Bank’s holdings in Abbott Laboratories were worth $7,461,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ABT. IFG Advisory LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $102,000. Tributary Capital Management LLC purchased a new stake in Abbott Laboratories in the third quarter worth approximately $106,000. Heritage Trust Co boosted its holdings in Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $133,000. Hedge funds and other institutional investors own 71.29% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Wells Fargo & Co raised their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. William Blair upgraded shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a report on Thursday, January 25th. Morgan Stanley upgraded shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, Barclays lifted their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $65.47.
Shares of Abbott Laboratories (NYSE:ABT) opened at $63.60 on Friday. The company has a market cap of $111,066.84, a price-to-earnings ratio of 244.62, a PEG ratio of 1.91 and a beta of 1.52. Abbott Laboratories has a 52-week low of $42.31 and a 52-week high of $64.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The company’s revenue was up 42.3% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.76%. Abbott Laboratories’s payout ratio is 430.79%.
About Abbott Laboratories
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.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.