Cullinan Associates Inc. Grows Position in Abbott Laboratories (NYSE:ABT)

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Cullinan Associates Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 1.7% in the fourth quarter, HoldingsChannel reports. The firm owned 87,620 shares of the healthcare product maker’s stock after purchasing an additional 1,455 shares during the quarter. Cullinan Associates Inc.’s holdings in Abbott Laboratories were worth $7,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth $38,000. Marquette Asset Management LLC raised its stake in shares of Abbott Laboratories by 173.4% in the third quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock worth $40,000 after purchasing an additional 300 shares during the last quarter. Corbenic Partners LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $42,000. Canton Hathaway LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth $42,000. Finally, Atwater Malick LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth $65,000. Institutional investors own 73.59% of the company’s stock.

Shares of ABT opened at $87.38 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.12. Abbott Laboratories has a one year low of $68.80 and a one year high of $89.24. The firm has a market capitalization of $151.63 billion, a P/E ratio of 30.34, a PEG ratio of 2.20 and a beta of 1.12. The business has a fifty day moving average of $86.11 and a 200 day moving average of $84.56.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Abbott Laboratories’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.65%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s payout ratio is presently 50.00%.

In related news, SVP Randel William Woodgrift sold 21,000 shares of Abbott Laboratories stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the sale, the senior vice president now owns 68,562 shares of the company’s stock, valued at $5,521,983.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

ABT has been the subject of several recent analyst reports. Evercore ISI cut Abbott Laboratories from an “outperform” rating to an “in-line” rating in a research note on Thursday, January 2nd. Guggenheim cut Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, January 2nd. Morgan Stanley boosted their price target on Abbott Laboratories from $93.00 to $101.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup cut Abbott Laboratories from a “neutral” rating to a “sell” rating in a research note on Thursday, January 2nd. Finally, Credit Suisse Group boosted their price target on Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Hold” and an average price target of $91.42.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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