Abbott Laboratories (NYSE:ABT) Shares Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC raised its position in Abbott Laboratories (NYSE:ABT) by 1.7% in the 4th quarter, Holdings Channel reports. The fund owned 89,517 shares of the healthcare product maker’s stock after acquiring an additional 1,515 shares during the period. Crestwood Advisors Group LLC’s holdings in Abbott Laboratories were worth $10,125,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Abbott Laboratories by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 184,961 shares of the healthcare product maker’s stock valued at $19,990,000 after buying an additional 35,127 shares during the period. Arkadios Wealth Advisors lifted its holdings in Abbott Laboratories by 31.6% in the third quarter. Arkadios Wealth Advisors now owns 15,651 shares of the healthcare product maker’s stock valued at $1,784,000 after acquiring an additional 3,761 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Abbott Laboratories by 99.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,765 shares of the healthcare product maker’s stock worth $315,000 after purchasing an additional 1,382 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth $281,000. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Abbott Laboratories by 0.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 27,866 shares of the healthcare product maker’s stock valued at $3,177,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Barclays reaffirmed an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Evercore ISI upped their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $135.04 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market cap of $234.22 billion, a PE ratio of 17.65, a P/E/G ratio of 2.48 and a beta of 0.75. The firm has a 50 day simple moving average of $120.75 and a 200-day simple moving average of $116.93. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $135.41.

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

Abbott Laboratories Dividend Announcement

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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.75%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.