Gabelli Funds LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 426,400 shares of the healthcare product maker’s stock after buying an additional 15,000 shares during the quarter. Gabelli Funds LLC’s holdings in Abbott Laboratories were worth $24,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of ABT. Rowland & Co. Investment Counsel ADV acquired a new stake in Abbott Laboratories during the 4th quarter worth $102,000. Heritage Trust Co raised its position 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 worth $106,000 after buying an additional 200 shares during the last quarter. Tributary Capital Management LLC purchased a new position in Abbott Laboratories during the 3rd quarter worth $106,000. Thompson Davis & CO. Inc. raised its position in Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after buying an additional 370 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in Abbott Laboratories during the 4th quarter worth $133,000. Hedge funds and other institutional investors own 71.29% of the company’s stock.
Abbott Laboratories (ABT) opened at $63.60 on Friday. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock has a market cap of $108,045.68, a PE ratio of 244.62, a PEG ratio of 1.86 and a beta of 1.52. Abbott Laboratories has a twelve month low of $42.31 and a twelve month high of $64.60.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.76%. Abbott Laboratories’s dividend payout ratio is presently 430.79%.
In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the completion of the transaction, the insider now directly owns 102,117 shares in the company, valued at approximately $5,608,265.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the transaction, the executive vice president now owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The disclosure for this sale can be found here. Insiders sold a total of 144,318 shares of company stock valued at $8,596,826 in the last quarter. Insiders own 0.76% of the company’s stock.
A number of equities analysts have commented on ABT shares. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, January 2nd. Royal Bank of Canada restated a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Morgan Stanley upgraded shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective for the company in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. upgraded shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective for the company in a research report on Tuesday, January 2nd. Finally, BMO Capital Markets upgraded shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $58.00 to $65.00 in a research report on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $65.47.
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Abbott Laboratories 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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