Enhancing Capital LLC Invests $430,000 in Abbott Laboratories (NYSE:ABT)

Enhancing Capital LLC purchased a new position in Abbott Laboratories (NYSE:ABT) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,800 shares of the healthcare product maker’s stock, valued at approximately $430,000.

Several other hedge funds have also recently modified their holdings of the business. Xponance Inc. lifted its position in Abbott Laboratories by 10.8% during the fourth quarter. Xponance Inc. now owns 268,652 shares of the healthcare product maker’s stock valued at $30,387,000 after acquiring an additional 26,192 shares during the last quarter. Intech Investment Management LLC lifted its position in Abbott Laboratories by 374.9% during the fourth quarter. Intech Investment Management LLC now owns 112,369 shares of the healthcare product maker’s stock valued at $12,710,000 after acquiring an additional 88,707 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in Abbott Laboratories during the fourth quarter valued at approximately $12,669,000. Evoke Wealth LLC lifted its position in Abbott Laboratories by 18.0% during the fourth quarter. Evoke Wealth LLC now owns 18,889 shares of the healthcare product maker’s stock valued at $2,137,000 after acquiring an additional 2,876 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in Abbott Laboratories by 1.4% during the fourth quarter. Horizon Investments LLC now owns 25,420 shares of the healthcare product maker’s stock valued at $2,860,000 after acquiring an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America increased their target price 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. Evercore ISI raised their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. The Goldman Sachs Group raised their price target 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. Finally, Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.94.

Insider Activity

In other news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock worth $15,463,316 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Down 1.1 %

ABT stock opened at $126.18 on Wednesday. The firm has a market cap of $218.83 billion, a PE ratio of 16.49, a P/E/G ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm’s fifty day moving average is $127.71 and its 200 day moving average is $119.67. 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 the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.19 earnings per share. On average, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.