Addison Advisors LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Addison Advisors LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 2.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,470 shares of the healthcare product maker’s stock after buying an additional 91 shares during the quarter. Addison Advisors LLC’s holdings in Abbott Laboratories were worth $506,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABT. LMG Wealth Partners LLC grew its stake in shares of Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after purchasing an additional 80 shares during the period. Jacobson & Schmitt Advisors LLC boosted its stake in Abbott Laboratories by 2.9% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares during the period. Insight Folios Inc boosted its stake in Abbott Laboratories by 3.3% in the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after purchasing an additional 87 shares during the period. Sfmg LLC boosted its stake in Abbott Laboratories by 1.9% in the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after purchasing an additional 88 shares during the period. Finally, River Street Advisors LLC raised its holdings in shares of Abbott Laboratories by 1.2% during the 4th quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock worth $834,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. UBS Group increased their price target on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Barclays reaffirmed an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company increased their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Activity

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Down 0.1 %

ABT opened at $134.81 on Tuesday. 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 business has a 50 day simple moving average of $121.20 and a 200-day simple moving average of $117.11. The stock has a market capitalization of $233.82 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $136.59.

Abbott Laboratories (NYSE:ABT) last issued 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. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations 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 was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

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.