Cromwell Holdings LLC Has $617,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Cromwell Holdings LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,455 shares of the healthcare product maker’s stock after purchasing an additional 155 shares during the quarter. Cromwell Holdings LLC’s holdings in Abbott Laboratories were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the third quarter worth about $32,000. Valued Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 78.4% in the 3rd 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. Wingate Wealth Advisors Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $34,000. Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at $37,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Abbott Laboratories in the fourth quarter valued at $37,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $133.21 on Friday. The firm has a market cap of $231.05 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 2.43 and a beta of 0.75. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $133.28. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $120.32 and a 200 day moving average price of $116.65.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the previous year, the company earned $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were given a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. UBS Group boosted their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Evercore ISI increased their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Finally, Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Activity at Abbott Laboratories

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