Mattern Capital Management LLC Has $8.05 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Mattern Capital Management LLC raised its position in Abbott Laboratories (NYSE:ABT) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,167 shares of the healthcare product maker’s stock after buying an additional 559 shares during the quarter. Mattern Capital Management LLC’s holdings in Abbott Laboratories were worth $8,050,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Groupama Asset Managment grew its holdings 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 worth $26,000 after purchasing an additional 41,557 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth $32,000. Valued Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 78.4% during the 3rd 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 in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at about $34,000. Finally, Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories in the third quarter valued at about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 0.8 %

Shares of NYSE:ABT opened at $133.21 on Friday. The stock has a market cap of $231.05 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 2.43 and a beta of 0.75. 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 $133.28. The business’s 50 day moving average is $120.32 and its 200 day moving average is $116.65.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.19 earnings per share. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th were paid a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Ratings Changes

Several research firms recently weighed in on ABT. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Wells Fargo & Company raised their price objective 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, Barclays reiterated an “overweight” rating and issued a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.