Fagan Associates Inc. Has $831,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Fagan Associates Inc. decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,345 shares of the healthcare product maker’s stock after selling 175 shares during the period. Fagan Associates Inc.’s holdings in Abbott Laboratories were worth $831,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Insight Folios Inc lifted its position in Abbott Laboratories by 3.3% during the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 87 shares during the period. Sfmg LLC lifted its position in Abbott Laboratories by 1.9% during the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after purchasing an additional 88 shares during the period. River Street Advisors LLC lifted its position in Abbott Laboratories by 1.2% during the 4th quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock valued at $834,000 after purchasing an additional 88 shares during the period. Silicon Valley Capital Partners lifted its position in Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after purchasing an additional 89 shares during the period. Finally, John G Ullman & Associates Inc. lifted its position in Abbott Laboratories by 0.3% during the 3rd quarter. John G Ullman & Associates Inc. now owns 30,617 shares of the healthcare product maker’s stock valued at $3,491,000 after purchasing an additional 90 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

ABT has been the subject of a number of recent analyst reports. Stifel Nicolaus upped 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Barclays reaffirmed an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Price Performance

NYSE:ABT opened at $130.12 on Wednesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.65. 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 fifty day simple moving average of $119.57 and a 200 day simple moving average of $116.42. The stock has a market capitalization of $225.68 billion, a PE ratio of 17.01, a P/E/G ratio of 2.39 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion during 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 quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 earnings per share. On average, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Wednesday, January 15th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 30.85%.

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.