King Luther Capital Management Corp Has $161.98 Million Holdings in Abbott Laboratories (NYSE:ABT)

King Luther Capital Management Corp decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,432,091 shares of the healthcare product maker's stock after selling 28,838 shares during the period. King Luther Capital Management Corp owned 0.08% of Abbott Laboratories worth $161,984,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ABT. Groupama Asset Managment grew its holdings in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker's stock valued at $26,000 after purchasing an additional 41,557 shares during the period. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC lifted its stake in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after acquiring an additional 105 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Finally, Peterson Financial Group Inc. bought a new position in Abbott Laboratories during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analyst Weigh In

ABT has been the subject of several research reports. UBS Group lifted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Stifel Nicolaus boosted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Citigroup lifted 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. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Four 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 stock. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average price target of $137.94.

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Abbott Laboratories Stock Down 1.7 %

ABT traded down $2.29 on Wednesday, reaching $130.37. 4,313,392 shares of the company traded hands, compared to its average volume of 5,544,081. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. 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 has a market cap of $226.10 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.52 and a beta of 0.69. The stock's 50 day moving average price is $126.23 and its 200-day moving average price is $119.13.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period last year, the company earned $1.19 earnings per share. Abbott Laboratories's quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.85%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, 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 document filed with the SEC, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business's stock in a transaction on Thursday, March 6th. The stock was 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 $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 0.47% of the company's stock.

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.