Weaver Capital Management LLC Purchases 1,394 Shares of Abbott Laboratories (NYSE:ABT)

Weaver Capital Management LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 20.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,310 shares of the healthcare product maker’s stock after purchasing an additional 1,394 shares during the period. Weaver Capital Management LLC’s holdings in Abbott Laboratories were worth $940,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Groupama Asset Managment lifted its stake in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories during the third quarter valued at $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the third quarter valued at $32,000. Valued Wealth Advisors LLC lifted its position in Abbott Laboratories by 78.4% during the third 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 purchased a new position in Abbott Laboratories during the third quarter valued at $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $129.18 on Wednesday. The company has a market cap of $224.06 billion, a P/E ratio of 16.89, a P/E/G ratio of 2.39 and a beta of 0.74. 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 business’s 50 day moving average price is $116.58 and its 200-day moving average price is $114.52. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $129.85.

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 the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed 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 1.83%. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 30.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABT shares. Raymond James restated a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Sanford C. Bernstein raised their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Mizuho lifted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Transactions at Abbott Laboratories

In related 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 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 document filed with the SEC, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Company 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.