Abbott Laboratories (NYSE:ABT) Shares Purchased by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,291 shares of the healthcare product maker’s stock after buying an additional 443 shares during the quarter. Abbott Laboratories accounts for about 1.2% of Fortune Financial Advisors LLC’s portfolio, making the stock its 28th largest holding. Fortune Financial Advisors LLC’s holdings in Abbott Laboratories were worth $1,277,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hixon Zuercher LLC lifted its holdings in shares of Abbott Laboratories by 1.9% in the 4th quarter. Hixon Zuercher LLC now owns 23,068 shares of the healthcare product maker’s stock valued at $2,609,000 after buying an additional 427 shares during the period. Mediolanum International Funds Ltd lifted its holdings in Abbott Laboratories by 75.0% in the fourth quarter. Mediolanum International Funds Ltd now owns 314,605 shares of the healthcare product maker’s stock valued at $35,400,000 after acquiring an additional 134,803 shares during the period. Crews Bank & Trust acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $722,000. Cairn Investment Group Inc. increased its holdings in shares of Abbott Laboratories by 71.9% during the 4th quarter. Cairn Investment Group Inc. now owns 3,179 shares of the healthcare product maker’s stock valued at $360,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its stake in shares of Abbott Laboratories by 72.4% in the 4th quarter. Baron Wealth Management LLC now owns 3,544 shares of the healthcare product maker’s stock valued at $401,000 after purchasing an additional 1,488 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.7 %

Shares of ABT opened at $128.75 on Friday. 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 firm has a 50-day moving average price of $115.94 and a 200 day moving average price of $113.90. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $129.85. The firm has a market capitalization of $223.32 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.51 and a beta of 0.73.

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, hitting analysts’ consensus estimates of $1.34. The business 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 business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 EPS. Sell-side analysts forecast that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. UBS Group increased their price target on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Barclays restated an “overweight” rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research report on Monday. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein increased their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.06.

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.