Strategic Financial Services Inc. Raises Stock Holdings in Abbott Laboratories (NYSE:ABT)

Strategic Financial Services Inc. lifted its holdings in Abbott Laboratories (NYSE:ABT) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,673 shares of the healthcare product maker’s stock after buying an additional 285 shares during the quarter. Strategic Financial Services Inc.’s holdings in Abbott Laboratories were worth $415,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. United Bank grew its position in Abbott Laboratories by 1.8% during the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock valued at $3,111,000 after buying an additional 488 shares during the period. BIP Wealth LLC boosted its position in shares of Abbott Laboratories by 50.1% during the 3rd quarter. BIP Wealth LLC now owns 3,128 shares of the healthcare product maker’s stock valued at $357,000 after acquiring an additional 1,044 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Abbott Laboratories by 38.0% during the 3rd quarter. Avior Wealth Management LLC now owns 42,700 shares of the healthcare product maker’s stock valued at $4,868,000 after buying an additional 11,768 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Abbott Laboratories during the third quarter worth $211,000. Finally, Strategy Asset Managers LLC lifted its position in shares of Abbott Laboratories by 51.0% during the third quarter. Strategy Asset Managers LLC now owns 9,392 shares of the healthcare product maker’s stock worth $1,071,000 after purchasing an additional 3,173 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Up 1.1 %

NYSE ABT opened at $127.64 on Thursday. The company has a fifty day moving average of $127.98 and a 200 day moving average of $119.73. The company has a market capitalization of $221.37 billion, a PE ratio of 16.68, a P/E/G ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the business earned $1.19 earnings per share. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. Research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ABT shares. Stifel Nicolaus raised their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. UBS Group increased their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Finally, Barclays reiterated an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $137.94.

Insider Activity at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares in the company, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,449 shares of company stock worth $15,463,316. 1.10% of the stock is owned by company insiders.

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.