Abbott Laboratories (NYSE:ABT) Shares Acquired by Horizon Investments LLC

Horizon Investments LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,420 shares of the healthcare product maker’s stock after acquiring an additional 342 shares during the quarter. Horizon Investments LLC’s holdings in Abbott Laboratories were worth $2,860,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. PDS Planning Inc boosted its position in shares of Abbott Laboratories by 1.8% in the 4th quarter. PDS Planning Inc now owns 117,416 shares of the healthcare product maker’s stock valued at $13,281,000 after purchasing an additional 2,055 shares during the period. Mystic Asset Management Inc. boosted its position in shares of Abbott Laboratories by 13.0% in the 4th quarter. Mystic Asset Management Inc. now owns 25,780 shares of the healthcare product maker’s stock valued at $2,916,000 after purchasing an additional 2,956 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of Abbott Laboratories by 1.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 121,433 shares of the healthcare product maker’s stock valued at $13,735,000 after purchasing an additional 1,579 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of Abbott Laboratories by 1.6% in the 4th quarter. Tocqueville Asset Management L.P. now owns 199,030 shares of the healthcare product maker’s stock valued at $22,512,000 after purchasing an additional 3,135 shares during the period. Finally, Edgemoor Investment Advisors Inc. boosted its position in shares of Abbott Laboratories by 6.6% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 3,053 shares of the healthcare product maker’s stock valued at $345,000 after purchasing an additional 189 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE ABT opened at $126.18 on Wednesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a market capitalization of $218.83 billion, a P/E ratio of 16.49, a PEG ratio of 2.52 and a beta of 0.70. The business has a 50 day moving average price of $127.71 and a 200 day moving average price of $119.67. 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 released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share 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 firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period last year, the business posted $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. UBS Group upped their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group increased their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Bank of America increased their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Argus raised Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,449 shares of company stock valued at $15,463,316. 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.