Abbott Laboratories (NYSE:ABT) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 12,922 shares of the healthcare product maker’s stock after selling 360 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Abbott Laboratories were worth $1,462,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ABT. Groupama Asset Managment boosted its holdings in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 41,557 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the third quarter valued at approximately $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 78.4% during 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. Finally, Highline Wealth Partners LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at approximately $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.4 %

ABT opened at $127.86 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $129.85. The business’s 50 day moving average is $115.71 and its two-hundred day moving average is $113.80. The firm has a market cap of $221.77 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 2.51 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 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

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

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Sanford C. Bernstein raised their target price 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. UBS Group increased their price objective 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. Finally, Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.