Ingalls & Snyder LLC Acquires 6,221 Shares of Abbott Laboratories (NYSE:ABT)

Ingalls & Snyder LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 252,851 shares of the healthcare product maker’s stock after purchasing an additional 6,221 shares during the quarter. Abbott Laboratories accounts for 1.1% of Ingalls & Snyder LLC’s holdings, making the stock its 18th biggest position. Ingalls & Snyder LLC’s holdings in Abbott Laboratories were worth $28,600,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ABT. Massachusetts Financial Services Co. MA increased its stake in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. State Street Corp increased its stake in Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC increased its stake in Abbott Laboratories by 13,194.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after purchasing an additional 1,667,170 shares in the last quarter. Sessa Capital IM L.P. increased its stake in Abbott Laboratories by 47.1% during the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock worth $427,481,000 after purchasing an additional 1,200,409 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Abbott Laboratories by 22,372.2% during the 4th quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after acquiring an additional 1,196,018 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction 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 sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Down 0.7 %

Shares of Abbott Laboratories stock opened at $130.48 on Thursday. The business has a fifty day simple moving average of $118.05 and a two-hundred day simple moving average of $115.60. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.50. The company has a market capitalization of $226.31 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 2.39 and a beta of 0.75. 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 announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) 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 business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Research analysts forecast 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. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Analyst Ratings Changes

ABT has been the subject of several research reports. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI raised their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley raised their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.