Delta Asset Management LLC TN Boosts Holdings in Abbott Laboratories (NYSE:ABT)
Delta Asset Management LLC TN boosted its position in Abbott Laboratories (NYSE:ABT) by 7.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,139 shares of the healthcare product maker’s stock after purchasing an additional 2,040 shares during the quarter. Delta Asset Management LLC TN’s holdings in Abbott Laboratories were worth $3,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Atlas Private Wealth Advisors lifted its position in shares of Abbott Laboratories by 107.3% in the 4th quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock worth $25,000 after purchasing an additional 118 shares during the period. Inspire Advisors LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at about $29,000. Black Swift Group LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at about $35,000. Krane Funds Advisors LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at about $39,000. Finally, PrairieView Partners LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at about $41,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on ABT. SVB Leerink lifted their price target on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a research note on Thursday, January 28th. BTIG Research upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Thursday, January 28th. Credit Suisse Group lifted their price target on shares of Abbott Laboratories from $118.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Tuesday, February 2nd. Finally, Cowen boosted their target price on shares of Abbott Laboratories from $113.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $126.06.
ABT stock opened at $119.53 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 0.58. Abbott Laboratories has a twelve month low of $86.16 and a twelve month high of $128.54. The stock has a market capitalization of $211.75 billion, a price-to-earnings ratio of 63.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. The firm’s fifty day simple moving average is $120.90 and its two-hundred day simple moving average is $115.19.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.05. The business had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.72 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The business’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 3.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s payout ratio is currently 55.56%.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, MÃ©niÃ¨re's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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