Huntington National Bank boosted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,258 shares of the healthcare product maker's stock after buying an additional 8,204 shares during the period. Huntington National Bank's holdings in Abbott Laboratories were worth $50,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. raised its position in shares of Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after purchasing an additional 76 shares during the last quarter. Cyrus J. Lawrence LLC raised its holdings in shares of Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock worth $107,000 after buying an additional 79 shares during the last quarter. LMG Wealth Partners LLC lifted its stake in shares of Abbott Laboratories by 3.8% during the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker's stock worth $244,000 after buying an additional 80 shares during the period. Jacobson & Schmitt Advisors LLC grew its holdings in shares of Abbott Laboratories by 2.9% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker's stock valued at $320,000 after buying an additional 80 shares during the last quarter. Finally, Glass Wealth Management Co LLC raised its stake in Abbott Laboratories by 3.2% in the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker's stock worth $299,000 after acquiring an additional 81 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on ABT. Barclays reiterated an "overweight" rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Citigroup raised their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.94.
View Our Latest Report on Abbott Laboratories
Abbott Laboratories Price Performance
NYSE ABT traded down $1.42 on Monday, hitting $123.02. The company had a trading volume of 4,484,445 shares, compared to its average volume of 5,900,328. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company's fifty day moving average price is $131.18 and its 200-day moving average price is $120.88. The company has a market capitalization of $213.36 billion, a PE ratio of 16.06, a PEG ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.
Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $11.03 billion. During the same period last year, the company posted $1.19 EPS. Abbott Laboratories'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 year.
Abbott Laboratories Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.92%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio is currently 30.85%.
Insiders Place Their Bets
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 125,697 shares of the company's stock, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 in the last 90 days. 0.46% of the stock is owned by insiders.
Abbott Laboratories Profile
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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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