AlphaCentric Advisors LLC Makes New $1.06 Million Investment in Abbott Laboratories (NYSE:ABT)

AlphaCentric Advisors LLC bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,333 shares of the healthcare product maker's stock, valued at approximately $1,056,000. Abbott Laboratories accounts for about 1.1% of AlphaCentric Advisors LLC's holdings, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of ABT. Welch Group LLC lifted its position in Abbott Laboratories by 5.3% in the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker's stock worth $7,744,000 after buying an additional 3,479 shares in the last quarter. Bath Savings Trust Co grew its stake in Abbott Laboratories by 3.7% in the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker's stock valued at $18,791,000 after purchasing an additional 5,881 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Simplify Asset Management Inc. boosted its holdings in Abbott Laboratories by 67.3% in the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker's stock worth $1,606,000 after purchasing an additional 5,664 shares in the last quarter. Finally, Pensionfund Sabic bought a new position in Abbott Laboratories during the fourth quarter valued at about $2,828,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $1.08 during trading hours on Thursday, reaching $133.21. The stock had a trading volume of 5,043,771 shares, compared to its average volume of 6,580,481. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market cap of $231.05 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 2.43 and a beta of 0.75. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $133.28. The business's fifty day moving average is $119.93 and its two-hundred day moving average is $116.53.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts' consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business's revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.19 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Wednesday, January 15th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.55. The ex-dividend date was Wednesday, January 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.85%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada reissued an "outperform" rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. StockNews.com downgraded shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Barclays restated an "overweight" rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Finally, Argus upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $133.06.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.