Fosun International Ltd Grows Stake in Abbott Laboratories (NYSE:ABT)
Fosun International Ltd lifted its position in Abbott Laboratories (NYSE:ABT) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,915 shares of the healthcare product maker’s stock after buying an additional 1,260 shares during the period. Fosun International Ltd’s holdings in Abbott Laboratories were worth $2,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. boosted its stake in shares of Abbott Laboratories by 57.0% in the 1st quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock worth $25,000 after buying an additional 114 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Abbott Laboratories by 374.3% in the 1st quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock worth $28,000 after buying an additional 277 shares during the last quarter. Lion Street Advisors LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth $31,000. Howard Wealth Management LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter worth $32,000. Finally, AlphaCore Capital LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 74.89% of the company’s stock.
ABT has been the topic of a number of research reports. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, April 16th. Stifel Nicolaus lifted their target price on Abbott Laboratories from $85.00 to $108.00 in a research report on Friday, April 17th. Credit Suisse Group lifted their target price on Abbott Laboratories from $95.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Morgan Stanley lowered their target price on Abbott Laboratories from $101.00 to $96.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. lifted their target price on Abbott Laboratories from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $99.47.
Shares of ABT stock traded up $0.33 during trading hours on Friday, hitting $90.72. The stock had a trading volume of 2,802,979 shares, compared to its average volume of 7,722,559. Abbott Laboratories has a one year low of $61.61 and a one year high of $100.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.01. The stock’s 50-day moving average price is $89.78 and its two-hundred day moving average price is $85.71. The stock has a market capitalization of $159.36 billion, a price-to-earnings ratio of 45.30, a PEG ratio of 3.74 and a beta of 0.98.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. The firm had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Abbott Laboratories will post 2.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
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 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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