Fayez Sarofim & Co Has $532.86 Million Stake in Abbott Laboratories (NYSE:ABT)

Fayez Sarofim & Co increased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,675,798 shares of the healthcare product maker's stock after purchasing an additional 486,028 shares during the quarter. Abbott Laboratories accounts for 1.3% of Fayez Sarofim & Co's holdings, making the stock its 27th biggest position. Fayez Sarofim & Co owned approximately 0.27% of Abbott Laboratories worth $532,859,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ABT. J. Safra Sarasin Holding AG grew its stake in shares of Abbott Laboratories by 23.6% during the 4th quarter. J. Safra Sarasin Holding AG now owns 205,687 shares of the healthcare product maker's stock worth $23,265,000 after acquiring an additional 39,287 shares in the last quarter. Select Asset Management & Trust acquired a new stake in Abbott Laboratories in the 4th quarter valued at $588,000. Van Lanschot Kempen Investment Management N.V. lifted its position in Abbott Laboratories by 39.8% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 66,059 shares of the healthcare product maker's stock worth $7,472,000 after buying an additional 18,802 shares in the last quarter. Wealth Dimensions Group Ltd. grew its holdings in shares of Abbott Laboratories by 12.3% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 4,255 shares of the healthcare product maker's stock valued at $481,000 after acquiring an additional 466 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Abbott Laboratories by 165.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 89,342 shares of the healthcare product maker's stock valued at $10,105,000 after acquiring an additional 55,643 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE ABT traded down $0.49 during midday trading on Friday, hitting $128.90. The company had a trading volume of 4,849,055 shares, compared to its average volume of 6,051,446. The firm has a 50-day moving average price of $130.57 and a 200-day moving average price of $122.31. The company has a market capitalization of $223.55 billion, a PE ratio of 16.85, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. As a group, analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 1.83%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's payout ratio is presently 30.61%.

Insider Activity

In other Abbott Laboratories 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 value of $3,054,573.50. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares of the company's stock, valued at $10,277,222.77. The trade was a 1.26 % 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 worth $15,463,316. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABT shares. Bank of America raised their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 10th. StockNews.com lowered shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Raymond James upped their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Finally, Citigroup boosted their target price on Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.59.

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.