Means Investment CO. Inc. Has $3.65 Million Position in Abbott Laboratories (NYSE:ABT)

Means Investment CO. Inc. cut its stake in Abbott Laboratories (NYSE:ABT) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,141 shares of the healthcare product maker’s stock after selling 659 shares during the quarter. Means Investment CO. Inc.’s holdings in Abbott Laboratories were worth $3,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Zevenbergen Capital Investments LLC lifted its stake in shares of Abbott Laboratories by 0.6% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after purchasing an additional 130 shares during the last quarter. Rockland Trust Co. increased its holdings in shares of Abbott Laboratories by 1.5% during the 3rd quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after acquiring an additional 1,343 shares during the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Abbott Laboratories by 7.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock valued at $301,000 after acquiring an additional 215 shares in the last quarter. Gradient Investments LLC boosted its position in Abbott Laboratories by 4.7% during the fourth quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after purchasing an additional 11,508 shares during the period. Finally, Boston Partners grew its holdings in Abbott Laboratories by 634.6% during the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock valued at $2,882,000 after purchasing an additional 25,707 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE ABT traded up $1.09 during trading on Friday, reaching $111.20. 5,589,244 shares of the company traded hands, compared to its average volume of 6,538,500. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The stock’s 50 day moving average price is $114.96 and its two-hundred day moving average price is $106.91. The company has a market cap of $192.95 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.68 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.19. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.19 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.98%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 67.48%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $128.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Wells Fargo & Company lifted their price target on Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Finally, Barclays boosted their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.14.

Insiders Place Their Bets

In other news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,435 shares of company stock valued at $6,451,298. 1.10% of the stock is currently owned by insiders.

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.