Dillon & Associates Inc. Has $24.07 Million Stake in Abbott Laboratories (NYSE:ABT)

Dillon & Associates Inc. boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 213,021 shares of the healthcare product maker's stock after purchasing an additional 2,674 shares during the period. Abbott Laboratories makes up about 3.3% of Dillon & Associates Inc.'s portfolio, making the stock its 7th largest holding. Dillon & Associates Inc.'s holdings in Abbott Laboratories were worth $24,071,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABT. Raymond James Financial Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth about $635,056,000. State Street Corp boosted its position in shares of Abbott Laboratories by 3.1% during 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 purchasing an additional 2,323,807 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Abbott Laboratories by 22,372.2% in the 4th quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker's stock worth $135,886,000 after purchasing an additional 1,196,018 shares in the last quarter. Franklin Resources Inc. lifted its stake in Abbott Laboratories by 13.7% during 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 grew its position in Abbott Laboratories by 22,466.1% in 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 during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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Abbott Laboratories Stock Performance

ABT traded up $3.84 during trading on Thursday, reaching $130.45. 3,400,202 shares of the company's stock were exchanged, compared to its average volume of 5,462,789. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a market capitalization of $226.25 billion, a P/E ratio of 17.05, a PEG ratio of 2.52 and a beta of 0.70. 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 business has a 50 day moving average price of $129.35 and a 200 day moving average price of $120.16.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (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 during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the prior year, the business posted $1.19 earnings per share. The company's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.81%. Abbott Laboratories's payout ratio is presently 30.85%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ABT shares. Wells Fargo & Company raised their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Citigroup increased their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. UBS Group upped their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research note 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. Finally, The Goldman Sachs Group increased their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $137.94.

Insider Transactions at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Eric Shroff sold 562 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares in the company, valued at $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is owned by insiders.

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.