OLD National Bancorp IN Has $12.89 Million Stock Position in Abbott Laboratories (NYSE:ABT)

OLD National Bancorp IN cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,971 shares of the healthcare product maker’s stock after selling 3,714 shares during the period. OLD National Bancorp IN’s holdings in Abbott Laboratories were worth $12,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Century Financial Group LLC boosted its holdings in shares of Abbott Laboratories by 152.0% in the second quarter. New Century Financial Group LLC now owns 4,836 shares of the healthcare product maker’s stock valued at $502,000 after buying an additional 2,917 shares during the period. RiverFront Investment Group LLC boosted its stake in Abbott Laboratories by 3.3% in the 2nd quarter. RiverFront Investment Group LLC now owns 9,408 shares of the healthcare product maker’s stock worth $978,000 after purchasing an additional 302 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Abbott Laboratories during the 2nd quarter worth about $207,000. Brown Financial Advisors bought a new stake in shares of Abbott Laboratories in the second quarter valued at about $1,580,000. Finally, Creekside Partners acquired a new position in shares of Abbott Laboratories during the second quarter worth about $238,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.4 %

ABT stock opened at $127.86 on Thursday. The stock has a market capitalization of $221.77 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $115.71 and a 200-day moving average price of $113.80. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $129.85.

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, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion for 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 company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Analysts Set New Price Targets

Several research firms have commented on ABT. Raymond James restated a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 21st. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Wells Fargo & Company lifted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Sanford C. Bernstein raised their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price 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.