John G Ullman & Associates Inc. Decreases Holdings in Abbott Laboratories (ABT)
John G Ullman & Associates Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 267,992 shares of the healthcare product maker’s stock after selling 4,040 shares during the quarter. Abbott Laboratories accounts for 3.1% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 8th largest holding. John G Ullman & Associates Inc.’s holdings in Abbott Laboratories were worth $15,294,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. IFG Advisory LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $102,000. Tributary Capital Management LLC purchased a new stake in Abbott Laboratories during the 3rd quarter valued at approximately $106,000. Heritage Trust Co grew its holdings in Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $133,000. Institutional investors own 70.01% of the company’s stock.
A number of brokerages have issued reports on ABT. Barclays increased their price objective on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Guggenheim reaffirmed a “buy” rating and set a $72.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Royal Bank of Canada reaffirmed a “buy” rating and set a $67.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Leerink Swann reaffirmed a “market perform” rating and set a $68.00 price objective (up from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Citigroup increased their price objective on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.47.
Abbott Laboratories (NYSE:ABT) opened at $59.46 on Friday. Abbott Laboratories has a fifty-two week low of $42.31 and a fifty-two week 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. The firm has a market cap of $103,837.02, a price-to-earnings ratio of 228.70, a P/E/G ratio of 1.79 and a beta of 1.52.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same period last year, the firm posted $0.65 earnings per share. Abbott Laboratories’s revenue for the quarter was up 42.3% compared to the same quarter last year. research analysts predict that Abbott Laboratories will post 2.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.
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