Ashburton Jersey Ltd Invests $7.14 Million in Abbott Laboratories (NYSE:ABT)

Ashburton Jersey Ltd acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 63,103 shares of the healthcare product maker's stock, valued at approximately $7,138,000. Abbott Laboratories comprises approximately 3.1% of Ashburton Jersey Ltd's investment portfolio, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Abbott Laboratories during the fourth quarter worth about $2,373,461,000. Raymond James Financial Inc. purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $635,056,000. Jennison Associates LLC grew its position in shares of Abbott Laboratories by 22,372.2% in the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker's stock valued at $135,886,000 after purchasing an additional 1,196,018 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Abbott Laboratories by 13.7% in the third quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker's stock valued at $1,144,818,000 after purchasing an additional 1,180,040 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Abbott Laboratories by 22,466.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,006,223 shares of the healthcare product maker's stock worth $113,814,000 after buying an additional 1,001,764 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

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Analysts Set New Price Targets

ABT has been the subject of a number of recent research reports. StockNews.com lowered Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Citigroup lifted their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. UBS Group lifted 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. Finally, Argus raised 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, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.94.

Insider Activity at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares of the company's stock, valued at $9,625,404.96. This represents a 55.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 over the last three months. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Up 2.5 %

NYSE ABT traded up $3.06 during trading hours on Friday, hitting $127.56. 2,688,830 shares of the company were exchanged, compared to its average volume of 5,978,970. The company has a 50 day moving average of $130.80 and a two-hundred day moving average of $121.24. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $221.22 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 yield of 1.85%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's payout ratio is 30.85%.

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.