Sei Investments Co. cut its stake in Abbott Laboratories (NYSE:ABT) by 24.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 360,698 shares of the healthcare product maker’s stock after selling 116,359 shares during the quarter. Sei Investments Co.’s holdings in Abbott Laboratories were worth $20,585,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. IFG Advisory LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $102,000. Tributary Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth about $106,000. Heritage Trust Co increased its position in shares of Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $133,000. 72.35% of the stock is currently owned by institutional investors.
Abbott Laboratories stock opened at $62.42 on Thursday. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Abbott Laboratories has a 52 week low of $42.31 and a 52 week high of $64.60. The company has a market capitalization of $109,407.83, a P/E ratio of 240.09, a price-to-earnings-growth ratio of 1.86 and a beta of 1.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.79%. Abbott Laboratories’s dividend payout ratio is presently 430.79%.
A number of brokerages have recently issued reports on ABT. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Argus lifted their target price on Abbott Laboratories from $66.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup lifted their target price on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Barclays lifted their target price on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $72.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $65.47.
In other Abbott Laboratories news, Director Daniel J. Starks acquired 40,037 shares of Abbott Laboratories stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $60.67 per share, for a total transaction of $2,429,044.79. Following the completion of the transaction, the director now owns 6,943,348 shares in the company, valued at approximately $421,252,923.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Blaser sold 27,733 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total value of $1,726,656.58. Following the transaction, the insider now 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 quarter, insiders have sold 124,261 shares of company stock valued at $7,559,987. Insiders own 0.76% of the company’s stock.
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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