IFM Investors Pty Ltd Increases Stock Position in Abbott Laboratories (NYSE:ABT)
IFM Investors Pty Ltd grew its position in Abbott Laboratories (NYSE:ABT) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,996 shares of the healthcare product maker’s stock after purchasing an additional 24,049 shares during the period. IFM Investors Pty Ltd’s holdings in Abbott Laboratories were worth $18,722,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $29,000. Price Wealth LLC increased its holdings in Abbott Laboratories by 63.6% during the third quarter. Price Wealth LLC now owns 306 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 119 shares during the last quarter. Crewe Advisors LLC increased its holdings in Abbott Laboratories by 278.4% during the third quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock worth $40,000 after buying an additional 270 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in Abbott Laboratories by 138.9% during the third quarter. Tortoise Investment Management LLC now owns 516 shares of the healthcare product maker’s stock worth $56,000 after buying an additional 300 shares during the last quarter. Finally, ELM Advisors LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth about $66,000. Institutional investors own 72.58% of the company’s stock.
In other Abbott Laboratories news, Director Phebe N. Novakovic sold 4,790 shares of Abbott Laboratories stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $107.28, for a total transaction of $513,871.20. Following the completion of the sale, the director now directly owns 34,446 shares in the company, valued at $3,695,366.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert E. Funck sold 83,333 shares of Abbott Laboratories stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $108.83, for a total transaction of $9,069,130.39. Following the sale, the chief financial officer now owns 265,550 shares of the company’s stock, valued at $28,899,806.50. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
ABT stock opened at $112.15 on Thursday. The firm has a 50 day moving average of $108.46 and a 200-day moving average of $105.10. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Abbott Laboratories has a 12 month low of $61.61 and a 12 month high of $115.14. The firm has a market capitalization of $198.77 billion, a P/E ratio of 59.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period last year, the business earned $0.84 earnings per share. Abbott Laboratories’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 3.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be given a $0.45 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.36. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, January 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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; MÃ©niÃ¨re'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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