Fidelity D & D Bancorp Inc. Makes New $269,000 Investment in Abbott Laboratories (NYSE:ABT)

Fidelity D & D Bancorp Inc. acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,361 shares of the healthcare product maker’s stock, valued at approximately $269,000.

Several other institutional investors also recently modified their holdings of ABT. Insight Folios Inc raised its position in Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 87 shares during the last quarter. Sfmg LLC increased its stake in shares of Abbott Laboratories by 1.9% in the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after buying an additional 88 shares during the period. Boltwood Capital Management boosted its position in Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after buying an additional 89 shares during the period. Wedge Capital Management L L P NC grew its holdings in Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after acquiring an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners increased its position in Abbott Laboratories by 8.7% in the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after acquiring an additional 89 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.1 %

Shares of ABT traded down $0.10 during trading hours on Friday, hitting $113.76. The stock had a trading volume of 272,054 shares, compared to its average volume of 5,601,146. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The firm has a market capitalization of $197.31 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The firm has a 50 day simple moving average of $116.25 and a 200-day simple moving average of $111.06. 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 (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Raymond James reissued a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Finally, Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.