Empower Advisory Group LLC Increases Stock Holdings in Abbott Laboratories (NYSE:ABT)

Empower Advisory Group LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 917,214 shares of the healthcare product maker’s stock after buying an additional 9,365 shares during the quarter. Empower Advisory Group LLC owned about 0.05% of Abbott Laboratories worth $103,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Welch Group LLC raised its stake in shares of Abbott Laboratories by 5.3% in the fourth quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock worth $7,744,000 after buying an additional 3,479 shares during the period. Bath Savings Trust Co raised its stake in Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after purchasing an additional 5,881 shares during the period. Bank Pictet & Cie Europe AG raised its stake in Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after purchasing an additional 2,774 shares during the period. Simplify Asset Management Inc. raised its stake in Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after purchasing an additional 5,664 shares during the period. Finally, Pensionfund Sabic bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $2,828,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $130.63 on Monday. The stock has a market cap of $226.56 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. 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 stock has a 50 day moving average price of $118.97 and a 200-day moving average price of $116.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.65.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 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 firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Wednesday, January 15th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays reaffirmed an “overweight” rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

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.