Mill Creek Capital Advisors LLC Grows Position in Abbott Laboratories (NYSE:ABT)

Mill Creek Capital Advisors LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 61.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,944 shares of the healthcare product maker’s stock after buying an additional 2,269 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Abbott Laboratories were worth $672,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sapient Capital LLC grew its position in Abbott Laboratories by 1.4% during the fourth quarter. Sapient Capital LLC now owns 29,084 shares of the healthcare product maker’s stock valued at $3,290,000 after acquiring an additional 408 shares during the period. Paladin Wealth LLC increased its position in Abbott Laboratories by 5.2% during the 4th quarter. Paladin Wealth LLC now owns 6,899 shares of the healthcare product maker’s stock worth $780,000 after purchasing an additional 339 shares in the last quarter. Arlington Trust Co LLC lifted its position in Abbott Laboratories by 2.8% during the fourth quarter. Arlington Trust Co LLC now owns 11,788 shares of the healthcare product maker’s stock valued at $1,333,000 after buying an additional 325 shares in the last quarter. Arlington Partners LLC grew its stake in Abbott Laboratories by 5.7% during the fourth quarter. Arlington Partners LLC now owns 38,221 shares of the healthcare product maker’s stock worth $4,323,000 after buying an additional 2,066 shares during the period. Finally, Bristlecone Advisors LLC raised its stake in shares of Abbott Laboratories by 14.7% in the 4th quarter. Bristlecone Advisors LLC now owns 2,343 shares of the healthcare product maker’s stock valued at $265,000 after acquiring an additional 300 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were 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 owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 1.8 %

ABT stock opened at $131.36 on Tuesday. The firm has a fifty day moving average price of $117.46 and a two-hundred day moving average price of $115.24. 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 $132.50. The firm has a market cap of $227.84 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.39 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last issued its 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 firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. Research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. 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 dividend payout ratio (DPR) is 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several research reports. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group boosted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Raymond James reissued a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.