Abbott Laboratories (ABT) Shares Bought by Putnam FL Investment Management Co.

Putnam FL Investment Management Co. lifted its position in Abbott Laboratories (NYSE:ABT) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 110,838 shares of the healthcare product maker’s stock after buying an additional 1,685 shares during the quarter. Putnam FL Investment Management Co.’s holdings in Abbott Laboratories were worth $6,326,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ABT. Teacher Retirement System of Texas grew its stake in Abbott Laboratories by 20.2% during the 4th quarter. Teacher Retirement System of Texas now owns 943,587 shares of the healthcare product maker’s stock worth $53,851,000 after purchasing an additional 158,376 shares in the last quarter. Mendel Money Management acquired a new position in Abbott Laboratories during the 4th quarter worth $502,000. ING Groep NV grew its stake in Abbott Laboratories by 860.9% during the 4th quarter. ING Groep NV now owns 117,033 shares of the healthcare product maker’s stock worth $6,679,000 after purchasing an additional 104,853 shares in the last quarter. Novare Capital Management LLC grew its stake in Abbott Laboratories by 4.5% during the 4th quarter. Novare Capital Management LLC now owns 106,295 shares of the healthcare product maker’s stock worth $6,066,000 after purchasing an additional 4,533 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth $712,000. Hedge funds and other institutional investors own 72.46% of the company’s stock.

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ABT has been the subject of several analyst reports. Bank of America boosted their target price on Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Royal Bank of Canada reissued a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Barclays reissued a “buy” rating and set a $66.00 target price on shares of Abbott Laboratories in a research note on Monday, January 8th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, January 2nd. Finally, ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $65.47.

Abbott Laboratories (NYSE ABT) opened at $63.18 on Friday. The stock has a market capitalization of $109,303.05, a PE ratio of 243.01, a PEG ratio of 1.86 and a beta of 1.52. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The business’s revenue was up 42.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. equities research analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors 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 dividend on an annualized basis and a dividend yield of 1.77%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 430.79%.

In related news, insider Stephen R. Fussell sold 56,401 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total value of $3,362,063.61. Following the completion of the sale, the insider now directly owns 184,884 shares of the company’s stock, valued at approximately $11,020,935.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Blaser sold 27,733 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total value of $1,726,656.58. Following the completion of the sale, the insider now directly owns 156,587 shares of the company’s stock, valued at $9,749,106.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,261 shares of company stock valued at $7,559,987. Insiders own 0.76% of the company’s stock.

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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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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