11,236 Shares in Abbott Laboratories (NYSE:ABT) Acquired by YANKCOM Partnership

YANKCOM Partnership acquired a new stake in Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,236 shares of the healthcare product maker’s stock, valued at approximately $1,271,000.

Other institutional investors have also modified their holdings of the company. Bleakley Financial Group LLC grew its position in Abbott Laboratories by 24.4% during the 4th quarter. Bleakley Financial Group LLC now owns 56,005 shares of the healthcare product maker’s stock worth $6,335,000 after purchasing an additional 10,983 shares during the last quarter. NovaPoint Capital LLC boosted its stake in shares of Abbott Laboratories by 3.2% during the fourth quarter. NovaPoint Capital LLC now owns 32,246 shares of the healthcare product maker’s stock worth $3,647,000 after buying an additional 1,002 shares during the period. Trilogy Capital Inc. grew its holdings in shares of Abbott Laboratories by 4.0% during the fourth quarter. Trilogy Capital Inc. now owns 2,604 shares of the healthcare product maker’s stock worth $295,000 after buying an additional 101 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its stake in Abbott Laboratories by 2.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 24,221 shares of the healthcare product maker’s stock valued at $2,740,000 after acquiring an additional 643 shares during the last quarter. Finally, Tyche Wealth Partners LLC lifted its position in Abbott Laboratories by 61.1% during the 4th quarter. Tyche Wealth Partners LLC now owns 16,629 shares of the healthcare product maker’s stock worth $1,881,000 after acquiring an additional 6,305 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on 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 directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $132.07 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $116.80 and a 200-day moving average of $114.71. The stock has a market cap of $229.06 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $132.50.

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

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given 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 yield of 1.79%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Mizuho upped their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Evercore ISI raised their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.06.

About Abbott Laboratories

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.