HUB Investment Partners LLC Has $3.35 Million Holdings in Abbott Laboratories (NYSE:ABT)

HUB Investment Partners LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,570 shares of the healthcare product maker’s stock after buying an additional 7,664 shares during the quarter. HUB Investment Partners LLC’s holdings in Abbott Laboratories were worth $3,345,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Cape Investment Advisory Inc. lifted its stake in shares of Abbott Laboratories by 6.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock valued at $140,000 after buying an additional 76 shares during the period. LMG Wealth Partners LLC boosted its stake in Abbott Laboratories by 3.8% during the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after buying an additional 80 shares in the last quarter. Jacobson & Schmitt Advisors LLC boosted its stake in Abbott Laboratories by 2.9% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after buying an additional 80 shares in the last quarter. Glass Wealth Management Co LLC boosted its stake in Abbott Laboratories by 3.2% during the fourth quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock worth $299,000 after buying an additional 81 shares in the last quarter. Finally, Austin Wealth Management LLC boosted its stake in Abbott Laboratories by 4.0% during the fourth quarter. Austin Wealth Management LLC now owns 2,134 shares of the healthcare product maker’s stock worth $242,000 after buying an additional 83 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABT. The Goldman Sachs Group increased their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Barclays reissued an “overweight” rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. UBS Group upped their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America lifted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $137.94.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,449 shares of company stock valued at $15,463,316. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Trading Up 1.1 %

Shares of NYSE:ABT opened at $127.64 on Thursday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The company has a market capitalization of $221.37 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The company has a 50-day simple moving average of $127.98 and a 200 day simple moving average of $119.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $11.03 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.