Vestcor Inc Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Vestcor Inc increased its stake in Abbott Laboratories (NYSE:ABT) by 8.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,203 shares of the healthcare product maker’s stock after buying an additional 5,699 shares during the period. Vestcor Inc’s holdings in Abbott Laboratories were worth $7,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories during the 4th quarter valued at $26,000. NewSquare Capital LLC boosted its stake in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories during the 3rd quarter valued at $32,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $130.29 on Thursday. The business’s 50-day simple moving average is $126.57 and its two-hundred day simple moving average is $119.21. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $225.97 billion, a PE ratio of 17.03, a P/E/G ratio of 2.52 and a beta of 0.69. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

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 the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the business earned $1.19 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts forecast that Abbott Laboratories will post 5.14 EPS 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.81%. Abbott Laboratories’s payout ratio is 30.85%.

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,449 shares of company stock valued at $15,463,316. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ABT has been the topic of several recent analyst reports. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus increased their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Citigroup increased their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

About Abbott Laboratories

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.