OLD National Bancorp IN Sells 3,714 Shares of Abbott Laboratories (NYSE:ABT)

OLD National Bancorp IN decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 3.2% in the 4th quarter, Holdings Channel reports. The firm owned 113,971 shares of the healthcare product maker’s stock after selling 3,714 shares during the quarter. OLD National Bancorp IN’s holdings in Abbott Laboratories were worth $12,891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth about $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC grew its stake 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 worth $33,000 after purchasing an additional 127 shares during the period. Highline Wealth Partners LLC bought a new stake in Abbott Laboratories in the third quarter worth approximately $37,000. Finally, JDM Financial Group LLC boosted its holdings in shares of Abbott Laboratories by 51.3% during the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $127.86 on Thursday. The stock has a 50 day moving average of $115.71 and a 200 day moving average of $113.80. 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 12 month low of $99.71 and a 12 month high of $129.85. The company has a market capitalization of $221.77 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.85%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 30.85%.

Analyst Upgrades and Downgrades

ABT has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Stifel Nicolaus raised their target price on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. UBS Group increased their price target on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Raymond James reiterated a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories 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.