Advyzon Investment Management LLC purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,963 shares of the healthcare product maker's stock, valued at approximately $335,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Abbott Laboratories by 17.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 268,538 shares of the healthcare product maker's stock worth $30,616,000 after buying an additional 40,783 shares in the last quarter. Fulcrum Capital LLC increased its holdings in shares of Abbott Laboratories by 1.6% during the third quarter. Fulcrum Capital LLC now owns 43,619 shares of the healthcare product maker's stock worth $4,973,000 after buying an additional 673 shares in the last quarter. Monte Financial Group LLC increased its holdings in shares of Abbott Laboratories by 8.3% during the third quarter. Monte Financial Group LLC now owns 59,855 shares of the healthcare product maker's stock worth $6,824,000 after buying an additional 4,610 shares in the last quarter. McAdam LLC increased its holdings in shares of Abbott Laboratories by 10.2% during the third quarter. McAdam LLC now owns 4,425 shares of the healthcare product maker's stock worth $504,000 after buying an additional 410 shares in the last quarter. Finally, Heartland Bank & Trust Co bought a new stake in shares of Abbott Laboratories in the third quarter worth $569,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Abbott Laboratories
In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction that occurred 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 $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Barclays reissued an "overweight" rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Royal Bank of Canada restated an "outperform" rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Evercore ISI raised their target price on Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research note on Thursday, January 2nd. Finally, UBS Group raised their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Four equities research 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 company's stock. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average target price of $133.06.
Check Out Our Latest Stock Analysis on ABT
Abbott Laboratories Stock Performance
Shares of Abbott Laboratories stock traded up $1.87 during mid-day trading on Friday, hitting $135.04. 7,117,852 shares of the stock were exchanged, compared to its average volume of 6,596,108. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $135.41. The company has a 50-day simple moving average of $120.32 and a 200 day simple moving average of $116.65. 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 company has a market capitalization of $234.22 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.46 and a beta of 0.75.
Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $11.03 billion. During the same quarter last year, the firm earned $1.19 EPS. The company's quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.75%. Abbott Laboratories's payout ratio is currently 30.85%.
About Abbott Laboratories
(
Free Report)
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.
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