Seven Mile Advisory Raises Stock Holdings in Abbott Laboratories (NYSE:ABT)

Seven Mile Advisory grew its holdings in Abbott Laboratories (NYSE:ABT) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,428 shares of the healthcare product maker’s stock after buying an additional 194 shares during the quarter. Seven Mile Advisory’s holdings in Abbott Laboratories were worth $388,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. United Bank lifted its stake in Abbott Laboratories by 1.8% in the 3rd quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock valued at $3,111,000 after buying an additional 488 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of Abbott Laboratories in the third quarter worth approximately $4,937,000. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Abbott Laboratories by 21.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,148 shares of the healthcare product maker’s stock worth $79,026,000 after purchasing an additional 120,967 shares in the last quarter. L.M. Kohn & Company raised its stake in Abbott Laboratories by 12.2% in the 3rd quarter. L.M. Kohn & Company now owns 2,302 shares of the healthcare product maker’s stock valued at $262,000 after purchasing an additional 250 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Abbott Laboratories by 1.9% during the 3rd quarter. Edgestream Partners L.P. now owns 16,293 shares of the healthcare product maker’s stock worth $1,858,000 after purchasing an additional 306 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT opened at $130.81 on Monday. The firm’s 50-day moving average is $130.05 and its two-hundred day moving average is $120.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market capitalization of $226.87 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70.

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, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the company posted $1.19 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analysts Set New Price Targets

ABT has been the topic of several research reports. The Goldman Sachs Group raised their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Bank of America increased their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Citigroup upped their target price on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company lifted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

Insider Buying and Selling

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,449 shares of company stock worth $15,463,316. Company insiders own 0.46% of the company’s stock.

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.