Alley Investment Management Company LLC Grows Position in Abbott Laboratories (NYSE:ABT)

Alley Investment Management Company LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,327 shares of the healthcare product maker’s stock after buying an additional 4,046 shares during the quarter. Abbott Laboratories makes up 2.0% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 20th largest holding. Alley Investment Management Company LLC’s holdings in Abbott Laboratories were worth $16,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories in the 4th quarter valued at $26,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories in the 3rd quarter valued at $32,000. Wingate Wealth Advisors Inc. purchased a new stake in Abbott Laboratories in the 4th quarter valued at $34,000. Newbridge Financial Services Group Inc. bought a new position in Abbott Laboratories in the 4th quarter valued at $37,000. Finally, JDM Financial Group LLC grew its stake in Abbott Laboratories by 51.3% in the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 123 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.5 %

ABT stock opened at $140.13 on Tuesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.00. The stock has a market cap of $243.03 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75. 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 company’s 50 day moving average is $123.59 and its 200 day moving average is $118.10.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the firm posted $1.19 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Insiders Place Their Bets

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the 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 sale, the executive vice president now directly 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 legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. UBS Group raised their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Wells Fargo & Company boosted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.