Abbott Laboratories (NYSE:ABT) Shares Purchased by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,276 shares of the healthcare product maker’s stock after purchasing an additional 122 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Abbott Laboratories were worth $484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Groupama Asset Managment lifted its holdings in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC lifted its holdings in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $34,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth about $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ABT shares. Wells Fargo & Company lifted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Evercore ISI lifted their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Stifel Nicolaus lifted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Barclays reiterated an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Stock Up 0.8 %

NYSE ABT opened at $136.03 on Wednesday. The business has a fifty day moving average price of $121.65 and a 200 day moving average price of $117.30. Abbott Laboratories has a one year low of $99.71 and a one year high of $136.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market cap of $235.94 billion, a P/E ratio of 17.78, a P/E/G ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the prior year, the company earned $1.19 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

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.