Ilmarinen Mutual Pension Insurance Co Boosts Position in Abbott Laboratories (NYSE:ABT)

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 25.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,500 shares of the healthcare product maker's stock after acquiring an additional 53,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Abbott Laboratories were worth $29,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $26,000. NewSquare Capital LLC increased its holdings in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

ABT traded down $2.21 during trading on Thursday, reaching $124.83. The stock had a trading volume of 4,252,597 shares, compared to its average volume of 5,959,775. 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 stock has a market cap of $216.50 billion, a PE ratio of 16.30, a PEG ratio of 2.52 and a beta of 0.80. The business has a 50-day moving average of $130.88 and a 200-day moving average of $121.17. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

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Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its 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. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.89%. Abbott Laboratories's payout ratio is 30.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. 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. Royal Bank of Canada restated an "outperform" rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Finally, Barclays reiterated an "overweight" rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.94.

Insider Activity

In related news, EVP Andrea F. Wainer sold 949 shares of the firm'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 transaction of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business'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 value 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 $9,625,404.96. The trade was a 55.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is currently 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.