Abbott Laboratories (NYSE:ABT) Shares Bought by Stiles Financial Services Inc

Stiles Financial Services Inc grew its holdings in Abbott Laboratories (NYSE:ABT) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,863 shares of the healthcare product maker’s stock after purchasing an additional 623 shares during the period. Abbott Laboratories makes up 1.1% of Stiles Financial Services Inc’s investment portfolio, making the stock its 27th largest position. Stiles Financial Services Inc’s holdings in Abbott Laboratories were worth $2,925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Legacy Financial Strategies LLC increased its position in shares of Abbott Laboratories by 0.7% during the fourth quarter. Legacy Financial Strategies LLC now owns 25,400 shares of the healthcare product maker’s stock valued at $2,881,000 after acquiring an additional 180 shares during the last quarter. Washburn Capital Management Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $279,000. Newbridge Financial Services Group Inc. purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $37,000. Stephens Inc. AR lifted its stake in Abbott Laboratories by 1.6% during the fourth quarter. Stephens Inc. AR now owns 115,933 shares of the healthcare product maker’s stock worth $13,113,000 after purchasing an additional 1,853 shares in the last quarter. Finally, Family Capital Trust Co grew its stake in shares of Abbott Laboratories by 1.5% in the fourth quarter. Family Capital Trust Co now owns 57,809 shares of the healthcare product maker’s stock valued at $6,539,000 after buying an additional 845 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $129.11 on Monday. 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 12 month low of $99.71 and a 12 month high of $132.50. The firm has a market capitalization of $223.93 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.75. The company’s fifty day moving average price is $117.46 and its 200 day moving average price is $115.18.

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, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion during 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%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 EPS. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $0.59 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 1.83%. Abbott Laboratories’s dividend payout ratio is 30.85%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. StockNews.com upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Mizuho boosted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a research 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.06.

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.