Harvey Investment Co. LLC Has $27.54 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Harvey Investment Co. LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 243,467 shares of the healthcare product maker’s stock after selling 168 shares during the period. Abbott Laboratories makes up 3.2% of Harvey Investment Co. LLC’s holdings, making the stock its 10th biggest position. Harvey Investment Co. LLC’s holdings in Abbott Laboratories were worth $27,539,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ABT. Groupama Asset Managment lifted its position in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 41,557 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the third quarter worth about $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC increased its holdings in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares during the period. Finally, Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. UBS Group boosted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Price Performance

Shares of ABT opened at $128.20 on Friday. The company has a market capitalization of $222.36 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The business has a 50-day moving average of $117.25 and a 200-day moving average of $114.93. 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.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.19 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 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.