Abbott Laboratories (NYSE:ABT) Shares Bought by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,933 shares of the healthcare product maker’s stock after purchasing an additional 196 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Abbott Laboratories were worth $558,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. State Street Corp grew its position in shares of Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after purchasing an additional 488,764 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Abbott Laboratories by 1.1% in the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock valued at $2,942,709,000 after purchasing an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after purchasing an additional 585,915 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $127.69 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $221.47 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 2.38 and a beta of 0.73. The firm’s fifty day simple moving average is $116.37 and its 200 day simple moving average is $114.25. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $129.85.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.85%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 30.85%.

Analysts Set New Price Targets

Several research firms have recently commented on ABT. UBS Group increased their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

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.