Abbott Laboratories (ABT) Position Lifted by Callahan Advisors LLC
Callahan Advisors LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,577 shares of the healthcare product maker’s stock after buying an additional 4,631 shares during the period. Callahan Advisors LLC’s holdings in Abbott Laboratories were worth $6,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in ABT. IFG Advisory LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth about $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth about $102,000. Tributary Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth about $106,000. Heritage Trust Co boosted its stake in shares of 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 buying an additional 200 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth about $133,000. 70.01% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on ABT. ValuEngine upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday. Argus upped their target price on Abbott Laboratories from $66.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup upped their target price on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Barclays upped their target price on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Guggenheim reiterated a “buy” rating and set a $72.00 price target on shares of Abbott Laboratories in a research report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $65.47.
Abbott Laboratories (NYSE ABT) opened at $59.46 on Friday. The firm has a market capitalization of $102,666.98, a P/E ratio of 23.52, a PEG ratio of 1.77 and a beta of 1.52. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. sell-side analysts expect that Abbott Laboratories will post 2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.88%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 430.79%.
Abbott Laboratories Company Profile
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.
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