Zurcher Kantonalbank Zurich Cantonalbank Purchases 22,705 Shares of Abbott Laboratories (NYSE:ABT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Abbott Laboratories (NYSE:ABT) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 732,945 shares of the healthcare product maker’s stock after acquiring an additional 22,705 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Abbott Laboratories were worth $82,903,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Impax Asset Management Group plc grew its holdings in Abbott Laboratories by 0.5% during the third quarter. Impax Asset Management Group plc now owns 557,608 shares of the healthcare product maker’s stock worth $63,573,000 after buying an additional 2,754 shares in the last quarter. Summit Global Investments grew its holdings in Abbott Laboratories by 13.4% during the third quarter. Summit Global Investments now owns 4,103 shares of the healthcare product maker’s stock worth $468,000 after buying an additional 486 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Abbott Laboratories during the third quarter worth $1,044,000. United Bank boosted its position in Abbott Laboratories by 1.8% in the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock worth $3,111,000 after purchasing an additional 488 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Abbott Laboratories by 11.4% in the third quarter. Assetmark Inc. now owns 132,020 shares of the healthcare product maker’s stock worth $15,052,000 after purchasing an additional 13,523 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $137.23 on Monday. The firm has a market capitalization of $238.00 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.52 and a beta of 0.70. 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’s 50-day simple moving average is $125.35 and its two-hundred day simple moving average is $118.82. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

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 analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion for 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%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. As a group, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.72%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the 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 directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,449 shares of company stock worth $15,463,316. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on ABT shares. Barclays reissued an “overweight” rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Argus raised Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. UBS Group upped their price target on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus upped their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.19.

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.