McAdam LLC Acquires 147 Shares of Abbott Laboratories (NYSE:ABT)

McAdam LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 4,572 shares of the healthcare product maker’s stock after acquiring an additional 147 shares during the period. McAdam LLC’s holdings in Abbott Laboratories were worth $517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Groupama Asset Managment increased its holdings in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth $32,000. Valued Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories in the third quarter worth about $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group raised their target price 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. Oppenheimer assumed coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four equities research 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.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Activity

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 sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Down 0.9 %

Abbott Laboratories stock opened at $127.69 on Monday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $129.85. 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 company has a 50 day moving average of $116.37 and a 200-day moving average of $114.25. The stock has a market capitalization of $221.47 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.38 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released 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. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

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.