Abbott Laboratories (ABT) Holdings Increased by Congress Asset Management Co. MA

Congress Asset Management Co. MA raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 563.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,720 shares of the healthcare product maker’s stock after acquiring an additional 595,043 shares during the period. Congress Asset Management Co. MA’s holdings in Abbott Laboratories were worth $50,683,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Csenge Advisory Group acquired a new position in shares of Abbott Laboratories in the 3rd quarter worth $31,000. Brand Asset Management Group Inc. grew its holdings in shares of Abbott Laboratories by 66.7% in the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of Abbott Laboratories by 33.2% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,199 shares of the healthcare product maker’s stock worth $87,000 after acquiring an additional 299 shares during the last quarter. NuWave Investment Management LLC grew its holdings in shares of Abbott Laboratories by 402.4% in the 4th quarter. NuWave Investment Management LLC now owns 1,281 shares of the healthcare product maker’s stock worth $93,000 after acquiring an additional 1,026 shares during the last quarter. Finally, NewSquare Capital LLC grew its holdings in shares of Abbott Laboratories by 14.2% in the 4th quarter. NewSquare Capital LLC now owns 1,290 shares of the healthcare product maker’s stock worth $93,000 after acquiring an additional 160 shares during the last quarter. 72.71% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, Chairman Miles D. White sold 142,341 shares of Abbott Laboratories stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the transaction, the chairman now owns 3,459,185 shares in the company, valued at $250,272,034.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jaime Contreras sold 177,457 shares of Abbott Laboratories stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total value of $12,421,990.00. Following the transaction, the insider now owns 100,985 shares in the company, valued at approximately $7,068,950. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Shares of ABT stock opened at $73.33 on Friday. Abbott Laboratories has a 1-year low of $55.58 and a 1-year high of $74.92. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $127.76 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. Abbott Laboratories had a return on equity of 16.50% and a net margin of 7.74%. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. Abbott Laboratories’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Abbott Laboratories will post 3.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be issued a dividend of $0.32 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, January 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.75%. Abbott Laboratories’s payout ratio is currently 44.44%.

A number of equities analysts recently issued reports on the company. Morgan Stanley lifted their target price on Abbott Laboratories from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, December 4th. Goldman Sachs Group upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $78.00 to $81.00 in a report on Friday, November 30th. Bank of America restated a “buy” rating and issued a $81.00 target price (up from $73.00) on shares of Abbott Laboratories in a report on Thursday. Citigroup cut Abbott Laboratories from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $72.00 to $68.00 in a report on Wednesday, January 2nd. Finally, Argus lifted their target price on Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a report on Friday, January 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $79.48.

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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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