Cerity Partners LLC Acquires 38,130 Shares of Abbott Laboratories (NYSE:ABT)

Cerity Partners LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,006,068 shares of the healthcare product maker’s stock after purchasing an additional 38,130 shares during the period. Cerity Partners LLC’s holdings in Abbott Laboratories were worth $113,878,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at $2,373,461,000. Raymond James Financial Inc. bought a new stake in Abbott Laboratories in the fourth quarter valued at $635,056,000. Jennison Associates LLC raised its holdings in shares of Abbott Laboratories by 22,372.2% during the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock valued at $135,886,000 after purchasing an additional 1,196,018 shares during the period. Franklin Resources Inc. boosted its position in shares of Abbott Laboratories by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock worth $1,144,818,000 after purchasing an additional 1,180,040 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of Abbott Laboratories by 22,466.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,006,223 shares of the healthcare product maker’s stock valued at $113,814,000 after buying an additional 1,001,764 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Down 5.4 %

Abbott Laboratories stock opened at $124.46 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $215.85 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.52 and a beta of 0.80. The firm has a 50 day moving average price of $131.18 and a 200-day moving average price of $120.88. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Insider Transactions at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. This 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 worth $15,463,316 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Citigroup lifted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. UBS Group lifted their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America raised their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $137.94.

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.