Abbott Laboratories (NYSE:ABT) is Coerente Capital Management’s 8th Largest Position

Coerente Capital Management grew its stake in Abbott Laboratories (NYSE:ABT) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,764 shares of the healthcare product maker’s stock after purchasing an additional 215 shares during the period. Abbott Laboratories comprises approximately 4.7% of Coerente Capital Management’s investment portfolio, making the stock its 8th largest holding. Coerente Capital Management’s holdings in Abbott Laboratories were worth $25,084,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Insight Folios Inc grew its position in Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after buying an additional 87 shares during the period. Sfmg LLC boosted its stake in shares of Abbott Laboratories by 1.9% during the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after acquiring an additional 88 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after acquiring an additional 89 shares during the period. Silicon Valley Capital Partners increased its stake in shares of Abbott Laboratories by 8.7% in the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after purchasing an additional 89 shares in the last quarter. Finally, Atwood & Palmer Inc. boosted its position in Abbott Laboratories by 6.5% during the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after purchasing an additional 90 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.9 %

ABT opened at $127.69 on Friday. The stock 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 has a one year low of $99.71 and a one year high of $129.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The business’s 50 day moving average price is $116.37 and its 200 day moving average price is $114.17.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate 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 net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 earnings per share. As a group, equities 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. Shareholders of record on Wednesday, January 15th will be given a $0.59 dividend. 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 1.85%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were 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 in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Evercore ISI upped their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Barclays reissued an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. UBS Group raised their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.06.

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.