Rahlfs Capital LLC Takes $1.05 Million Position in Abbott Laboratories (NYSE:ABT)

Rahlfs Capital LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,258 shares of the healthcare product maker’s stock, valued at approximately $1,047,000. Abbott Laboratories comprises approximately 1.0% of Rahlfs Capital LLC’s holdings, making the stock its 29th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter worth about $2,373,461,000. Raymond James Financial Inc. bought a new position in Abbott Laboratories in the 4th quarter valued at about $635,056,000. Jennison Associates LLC boosted its holdings in shares of Abbott Laboratories by 22,372.2% during the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after acquiring an additional 1,196,018 shares during the period. Franklin Resources Inc. raised its holdings in Abbott Laboratories by 13.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock valued at $1,144,818,000 after acquiring an additional 1,180,040 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Abbott Laboratories by 22,466.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,006,223 shares of the healthcare product maker’s stock worth $113,814,000 after purchasing an additional 1,001,764 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

ABT stock opened at $124.46 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. 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 stock has a 50-day moving average price of $131.18 and a 200-day moving average price of $120.82. The firm has a market cap of $215.85 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT) last released 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. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the company earned $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect 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 paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABT. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Evercore ISI upped their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Citigroup lifted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barclays reissued an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Finally, StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, fifteen have issued 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 an average rating of “Moderate Buy” and an average target price of $137.94.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,449 shares of company stock valued at $15,463,316. Company insiders own 0.46% of the company’s stock.

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.