Close Asset Management Ltd Takes $1.13 Million Position in Abbott Laboratories (NYSE:ABT)

Close Asset Management Ltd acquired a new position in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,003 shares of the healthcare product maker’s stock, valued at approximately $1,132,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Groupama Asset Managment lifted its stake in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new stake in shares of Abbott Laboratories in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC grew its position in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.7 %

Shares of ABT stock opened at $129.11 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.50. The firm’s fifty day simple moving average is $117.25 and its 200 day simple moving average is $114.93. The firm has a market capitalization of $223.93 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74.

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

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

ABT has been the topic of several research analyst reports. Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.06.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of 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 Securities & Exchange Commission, which is available at this link. 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.