Abbott Laboratories (NYSE:ABT) Shares Acquired by Leavell Investment Management Inc.

Leavell Investment Management Inc. raised its stake in Abbott Laboratories (NYSE:ABT) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,981 shares of the healthcare product maker’s stock after acquiring an additional 580 shares during the period. Leavell Investment Management Inc.’s holdings in Abbott Laboratories were worth $4,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Abbott Laboratories by 1.4% during the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after purchasing an additional 488,764 shares during the last quarter. Wellington Management Group LLP increased its position in Abbott Laboratories by 1.1% during the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after purchasing an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Abbott Laboratories by 5.6% during the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $131.48 on Wednesday. The company has a market cap of $228.04 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The company’s fifty day moving average is $117.75 and its two-hundred day moving average is $115.42. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $132.50.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 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 firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal 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 given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.80%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Insider Activity

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays reaffirmed 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, Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price 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.