By otakuyassine3@gmail.com 
HHM Wealth Advisors LLC increased its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 88.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,515 shares of the healthcare product maker’s stock after buying an additional 3,058 shares during the period. HHM Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $737,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of ABT. Groupama Asset Managment grew its position in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the 3rd quarter worth about $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the third quarter valued at about $32,000. Valued Wealth Advisors LLC lifted its holdings in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares in the last quarter. Finally, Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories in the third quarter valued at approximately $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories Stock Performance
Abbott Laboratories stock opened at $127.69 on Monday. The firm has a fifty day simple moving average of $116.37 and a two-hundred day simple moving average of $114.25. 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 has a twelve month low of $99.71 and a twelve month high of $129.85. The company has a market capitalization of $221.47 billion, a PE ratio of 16.69, a P/E/G ratio of 2.38 and a beta of 0.73.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. Research analysts expect 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 annualized dividend and a dividend yield of 1.85%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 30.85%.
Analysts Set New Price Targets
Several research firms have issued reports on ABT. Barclays reiterated an “overweight” rating and issued a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 21st. UBS Group upped their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.
Read Our Latest Stock Analysis on Abbott Laboratories
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories 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 transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.
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.
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