Indiana Trust & Investment Management Co Acquires 709 Shares of Abbott Laboratories (NYSE:ABT)

Indiana Trust & Investment Management Co boosted its holdings in Abbott Laboratories (NYSE:ABT) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,695 shares of the healthcare product maker’s stock after buying an additional 709 shares during the period. Indiana Trust & Investment Management Co’s holdings in Abbott Laboratories were worth $870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. TCV Trust & Wealth Management Inc. grew its stake in Abbott Laboratories by 2.1% in the fourth quarter. TCV Trust & Wealth Management Inc. now owns 121,856 shares of the healthcare product maker’s stock valued at $13,783,000 after acquiring an additional 2,459 shares during the period. Leavell Investment Management Inc. increased its holdings in Abbott Laboratories by 1.6% during the 4th quarter. Leavell Investment Management Inc. now owns 36,981 shares of the healthcare product maker’s stock worth $4,183,000 after purchasing an additional 580 shares in the last quarter. Portfolio Design Labs LLC raised its stake in shares of Abbott Laboratories by 27.3% in the 4th quarter. Portfolio Design Labs LLC now owns 23,619 shares of the healthcare product maker’s stock valued at $2,672,000 after purchasing an additional 5,059 shares during the period. Sovran Advisors LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $757,000. Finally, Axecap Investments LLC boosted its position in shares of Abbott Laboratories by 4.3% during the fourth quarter. Axecap Investments LLC now owns 2,401 shares of the healthcare product maker’s stock worth $272,000 after buying an additional 100 shares during the period. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABT. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group upped their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Trading Up 0.1 %

ABT stock opened at $131.48 on Wednesday. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.50. The stock has a market cap of $228.04 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The company has a fifty day moving average price of $117.75 and a two-hundred day moving average price of $115.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 quarter in the prior year, the business posted $1.19 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Abbott Laboratories will post 5.14 EPS 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 given a dividend of $0.59 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.80%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’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 completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.