Kentucky Retirement Systems Insurance Trust Fund Acquires 3,241 Shares of Abbott Laboratories (NYSE:ABT)

Kentucky Retirement Systems Insurance Trust Fund raised its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,755 shares of the healthcare product maker's stock after buying an additional 3,241 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Abbott Laboratories were worth $6,193,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock valued at $8,746,896,000 after buying an additional 2,323,807 shares during the period. Geode Capital Management LLC increased its stake in Abbott Laboratories by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker's stock valued at $3,963,974,000 after buying an additional 488,764 shares during the period. Wellington Management Group LLP increased its stake in Abbott Laboratories by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker's stock valued at $2,942,709,000 after buying an additional 280,441 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock valued at $1,518,539,000 after buying an additional 2,711,586 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Abbott Laboratories by 5.6% in the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker's stock valued at $1,265,762,000 after buying an additional 585,915 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 125,697 shares of the company's stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $1.87 during mid-day trading on Friday, reaching $135.04. The company's stock had a trading volume of 7,117,852 shares, compared to its average volume of 6,596,108. The company has a market cap of $234.22 billion, a P/E ratio of 17.65, a PEG ratio of 2.46 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm's 50-day moving average is $120.75 and its two-hundred day moving average is $116.83. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $135.41.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.75%. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ABT. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Barclays reissued an "overweight" rating and issued a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Evercore ISI boosted their target price on shares of Abbott Laboratories to $136.00 and gave the stock a "buy" rating in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $133.06.

Abbott Laboratories 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.