Sivik Global Healthcare LLC Invests $6.84 Million in Abbott Laboratories (NYSE:ABT)

Sivik Global Healthcare LLC purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,000 shares of the healthcare product maker's stock, valued at approximately $6,841,000. Abbott Laboratories comprises approximately 2.9% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BDF Gestion acquired a new position in shares of Abbott Laboratories in the second quarter worth about $7,651,000. Dundas Partners LLP boosted its position in Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker's stock worth $34,313,000 after purchasing an additional 6,897 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker's stock valued at $22,091,000 after buying an additional 31,720 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Abbott Laboratories by 110.1% during the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker's stock valued at $3,551,000 after buying an additional 16,325 shares in the last quarter. Finally, Proactive Wealth Strategies LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth $2,176,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABT has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, October 17th. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. UBS Group increased their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $130.07.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company's stock, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.

Abbott Laboratories Trading Down 0.6 %

Shares of ABT traded down $0.69 during midday trading on Thursday, hitting $115.05. 3,810,205 shares of the stock were exchanged, compared to its average volume of 5,696,197. 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 firm has a market cap of $199.55 billion, a P/E ratio of 35.18, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52-week low of $96.92 and a 52-week high of $121.64. The stock has a fifty day simple moving average of $115.45 and a 200 day simple moving average of $109.39.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the prior year, the business earned $1.14 EPS. Abbott Laboratories's revenue was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories's dividend payout ratio is presently 66.87%.

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.