TBH Global Asset Management LLC Has $622,000 Stock Position in Abbott Laboratories (NYSE:ABT)

TBH Global Asset Management LLC raised its position in Abbott Laboratories (NYSE:ABT) by 3.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,498 shares of the healthcare product maker’s stock after acquiring an additional 163 shares during the period. TBH Global Asset Management LLC’s holdings in Abbott Laboratories were worth $622,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Welch Group LLC increased its stake in Abbott Laboratories by 5.3% during the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock valued at $7,744,000 after purchasing an additional 3,479 shares in the last quarter. Bath Savings Trust Co increased its position in shares of Abbott Laboratories by 3.7% during the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after acquiring an additional 5,881 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after acquiring an additional 2,774 shares during the last quarter. Simplify Asset Management Inc. lifted its position in Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares in the last quarter. Finally, Pensionfund Sabic acquired a new position in Abbott Laboratories during the 4th quarter valued at about $2,828,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 1.5 %

ABT stock opened at $132.18 on Thursday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $132.65. The stock has a fifty day moving average of $119.93 and a 200-day moving average of $116.53. The company has a market capitalization of $229.26 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.44 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last issued 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 during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the business earned $1.19 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th were given a dividend of $0.59 per share. The ex-dividend date was Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.79%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.