Fosun International Ltd Boosts Stake in Abbott Laboratories (NYSE:ABT)

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Fosun International Ltd lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,915 shares of the healthcare product maker’s stock after acquiring an additional 1,260 shares during the quarter. Fosun International Ltd’s holdings in Abbott Laboratories were worth $2,691,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Firestone Capital Management purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth about $68,000. Benjamin Edwards Inc. boosted its stake in shares of Abbott Laboratories by 57.0% during the 1st quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock worth $25,000 after acquiring an additional 114 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Abbott Laboratories by 374.3% during the 1st quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock worth $28,000 after acquiring an additional 277 shares in the last quarter. Howard Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth about $32,000. Finally, Lion Street Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth about $31,000. 74.89% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $85.00 to $108.00 in a research note on Friday, April 17th. Credit Suisse Group upped their price target on shares of Abbott Laboratories from $95.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Wells Fargo & Co upped their price target on shares of Abbott Laboratories from $95.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. UBS Group upped their price target on shares of Abbott Laboratories from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Abbott Laboratories from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $99.47.

ABT stock traded up $0.33 during mid-day trading on Friday, reaching $90.72. The company’s stock had a trading volume of 2,802,979 shares, compared to its average volume of 7,722,559. The stock has a market cap of $159.36 billion, a PE ratio of 45.30, a P/E/G ratio of 3.74 and a beta of 0.98. The company has a current ratio of 1.43, a quick ratio of 1.01 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $100.00. The company’s 50 day moving average is $89.78 and its two-hundred day moving average is $85.71.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. The business had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.47 billion. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. On average, analysts forecast that Abbott Laboratories will post 2.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

In other news, SVP Randel William Woodgrift sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $93.18, for a total transaction of $347,002.32. Following the completion of the sale, the senior vice president now owns 48,767 shares in the company, valued at approximately $4,544,109.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew H. Lane sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the sale, the executive vice president now owns 107,090 shares of the company’s stock, valued at approximately $9,852,280. The disclosure for this sale can be found here. Insiders have sold a total of 166,186 shares of company stock valued at $15,359,524 in the last 90 days. Insiders own 1.70% of the company’s stock.

About Abbott Laboratories

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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