Abbott Laboratories (ABT) Stake Boosted by Northside Capital Management LLC
Northside Capital Management LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,009 shares of the healthcare product maker’s stock after purchasing an additional 206 shares during the period. Northside Capital Management LLC’s holdings in Abbott Laboratories were worth $652,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Independent Investors Inc. increased its position in shares of Abbott Laboratories by 0.4% in the 4th quarter. Independent Investors Inc. now owns 52,750 shares of the healthcare product maker’s stock valued at $3,815,000 after acquiring an additional 200 shares during the period. Blue Fin Capital Inc. increased its position in shares of Abbott Laboratories by 1.1% in the 3rd quarter. Blue Fin Capital Inc. now owns 18,522 shares of the healthcare product maker’s stock valued at $1,359,000 after acquiring an additional 201 shares during the period. United Capital Management of KS Inc. increased its position in shares of Abbott Laboratories by 1.6% in the 4th quarter. United Capital Management of KS Inc. now owns 15,416 shares of the healthcare product maker’s stock valued at $1,115,000 after acquiring an additional 238 shares during the period. JGP Wealth Management LLC increased its position in shares of Abbott Laboratories by 0.5% in the 3rd quarter. JGP Wealth Management LLC now owns 46,474 shares of the healthcare product maker’s stock valued at $3,409,000 after acquiring an additional 249 shares during the period. Finally, Carroll Financial Associates Inc. increased its position in shares of Abbott Laboratories by 3.2% in the 4th quarter. Carroll Financial Associates Inc. now owns 8,735 shares of the healthcare product maker’s stock valued at $603,000 after acquiring an additional 269 shares during the period. 72.75% of the stock is currently owned by institutional investors and hedge funds.
ABT traded down $0.87 during midday trading on Monday, hitting $68.46. 1,808,420 shares of the company were exchanged, compared to its average volume of 8,115,916. The company has a market capitalization of $121.96 billion, a P/E ratio of 27.38, a P/E/G ratio of 1.86 and a beta of 1.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. Abbott Laboratories has a 1-year low of $55.58 and a 1-year high of $74.92.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be paid a dividend of $0.32 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, January 14th. Abbott Laboratories’s dividend payout ratio is presently 44.80%.
In other news, Chairman Miles D. White sold 142,341 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the sale, the chairman now directly owns 3,459,185 shares of the company’s stock, valued at approximately $250,272,034.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jared Watkin sold 65,000 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the sale, the insider now directly owns 128,640 shares in the company, valued at $9,133,440. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
Several research firms recently issued reports on ABT. Goldman Sachs Group raised Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $74.10 target price on the stock in a research report on Sunday, December 9th. Gabelli reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. UBS Group started coverage on Abbott Laboratories in a research report on Tuesday, November 27th. They set a “buy” rating and a $83.00 price target on the stock. Raymond James increased their price target on Abbott Laboratories from $77.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, October 18th. Finally, Royal Bank of Canada increased their price target on Abbott Laboratories to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $76.86.
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Abbott Laboratories Company 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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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