Marco Investment Management LLC Raises Position in Abbott Laboratories (NYSE:ABT)

Marco Investment Management LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 18.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,065 shares of the healthcare product maker’s stock after buying an additional 12,363 shares during the period. Marco Investment Management LLC’s holdings in Abbott Laboratories were worth $8,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Impax Asset Management Group plc increased its position in shares of Abbott Laboratories by 0.5% during the third quarter. Impax Asset Management Group plc now owns 557,608 shares of the healthcare product maker’s stock valued at $63,573,000 after acquiring an additional 2,754 shares in the last quarter. United Advisor Group LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $302,000. Avidian Wealth Enterprises LLC increased its position in shares of Abbott Laboratories by 1.9% during the third quarter. Avidian Wealth Enterprises LLC now owns 8,213 shares of the healthcare product maker’s stock valued at $936,000 after acquiring an additional 157 shares in the last quarter. Beacon Financial Advisory LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $201,000. Finally, Maia Wealth LLC increased its position in shares of Abbott Laboratories by 6.2% during the third quarter. Maia Wealth LLC now owns 2,621 shares of the healthcare product maker’s stock valued at $305,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABT. Citigroup raised their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Evercore ISI lifted their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays reaffirmed an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.19.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $134.90 on Friday. The company’s 50-day moving average price is $124.90 and its 200-day moving average price is $118.53. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $233.97 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last posted 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. 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 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.75%. Abbott Laboratories’s payout ratio is 30.85%.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were 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 in the company, valued at approximately $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 accessible through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares in the company, valued at $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,282 shares of company stock worth $3,263,348. Insiders own 1.10% 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.