Fisher Asset Management LLC Boosts Stake in Abbott Laboratories (NYSE:ABT)

Fisher Asset Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,277,123 shares of the healthcare product maker’s stock after acquiring an additional 174,919 shares during the quarter. Fisher Asset Management LLC owned 0.65% of Abbott Laboratories worth $1,275,555,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Groupama Asset Managment raised its position in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.6 %

Shares of NYSE ABT opened at $137.99 on Friday. The company has a 50 day simple moving average of $123.08 and a 200-day simple moving average of $117.77. The company has a market capitalization of $239.32 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.52 and a beta of 0.75. 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 $138.37.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. On average, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.71%. Abbott Laboratories’s payout ratio is currently 30.85%.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now 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 document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABT has been the subject of several research analyst reports. Barclays restated an “overweight” rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. 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 report on Thursday, January 23rd. Finally, Evercore ISI increased their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.06.

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.