Bleakley Financial Group LLC Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Bleakley Financial Group LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 24.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 56,005 shares of the healthcare product maker’s stock after buying an additional 10,983 shares during the period. Bleakley Financial Group LLC’s holdings in Abbott Laboratories were worth $6,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Insight Folios Inc lifted its stake in Abbott Laboratories by 3.3% in the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after purchasing an additional 87 shares in the last quarter. Sfmg LLC raised its holdings in shares of Abbott Laboratories by 1.9% in the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after acquiring an additional 88 shares in the last quarter. River Street Advisors LLC boosted its position in shares of Abbott Laboratories by 1.2% during the 4th quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock valued at $834,000 after acquiring an additional 88 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Abbott Laboratories by 2.9% in the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after purchasing an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its stake in 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 worth $126,000 after buying an additional 89 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of ABT opened at $132.07 on Thursday. 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 firm’s 50-day simple moving average is $116.80 and its two-hundred day simple moving average is $114.71. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $132.50. The stock has a market cap of $229.06 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated 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 sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of several research reports. Mizuho upped their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays reissued an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, UBS Group increased their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $133.06.

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.