Vestcor Inc Increases Holdings in Abbott Laboratories (NYSE:ABT)

Vestcor Inc raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,203 shares of the healthcare product maker’s stock after buying an additional 5,699 shares during the quarter. Vestcor Inc’s holdings in Abbott Laboratories were worth $7,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Impax Asset Management Group plc grew its position in Abbott Laboratories by 0.5% during the third quarter. Impax Asset Management Group plc now owns 557,608 shares of the healthcare product maker’s stock worth $63,573,000 after buying an additional 2,754 shares in the last quarter. United Bank grew its position in Abbott Laboratories by 1.8% during the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock worth $3,111,000 after buying an additional 488 shares in the last quarter. Versor Investments LP purchased a new position in Abbott Laboratories during the third quarter worth about $651,000. Verus Capital Partners LLC grew its position in Abbott Laboratories by 7.5% during the third quarter. Verus Capital Partners LLC now owns 5,705 shares of the healthcare product maker’s stock worth $650,000 after buying an additional 400 shares in the last quarter. Finally, Dillon & Associates Inc. grew its position in Abbott Laboratories by 2.1% during the third quarter. Dillon & Associates Inc. now owns 210,347 shares of the healthcare product maker’s stock worth $23,980,000 after buying an additional 4,364 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 in the last 90 days. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Trading Down 1.8 %

ABT opened at $130.29 on Thursday. The business has a 50 day simple moving average of $126.57 and a two-hundred day simple moving average of $119.21. The firm has a market capitalization of $225.97 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 2.52 and a beta of 0.69. 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 one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 EPS. Analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 30.85%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ABT shares. Wells Fargo & Company upped their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. 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. Finally, Barclays reiterated an “overweight” rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.94.

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.