TBH Global Asset Management LLC Acquires 163 Shares of Abbott Laboratories (NYSE:ABT)

TBH Global Asset Management LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the 4th quarter, Holdings Channel reports. The firm owned 5,498 shares of the healthcare product maker’s stock after acquiring an additional 163 shares during the period. TBH Global Asset Management LLC’s holdings in Abbott Laboratories were worth $622,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Abbott Laboratories by 17.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 268,538 shares of the healthcare product maker’s stock valued at $30,616,000 after purchasing an additional 40,783 shares during the last quarter. Trilogy Capital Inc. boosted its stake in Abbott Laboratories by 5.6% in the third quarter. Trilogy Capital Inc. now owns 2,503 shares of the healthcare product maker’s stock worth $285,000 after buying an additional 132 shares in the last quarter. Copeland Capital Management LLC bought a new position in Abbott Laboratories during the third quarter valued at approximately $142,000. My Legacy Advisors LLC lifted its holdings in shares of Abbott Laboratories by 2.3% in the 3rd quarter. My Legacy Advisors LLC now owns 4,180 shares of the healthcare product maker’s stock worth $477,000 after acquiring an additional 92 shares during the last quarter. Finally, Symphony Financial Ltd. Co. boosted its stake in shares of Abbott Laboratories by 11.2% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 8,571 shares of the healthcare product maker’s stock valued at $964,000 after purchasing an additional 863 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $132.18 on Thursday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $132.65. The stock has a market cap of $229.26 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.44 and a beta of 0.75. The stock’s 50 day simple moving average is $119.93 and its two-hundred day simple moving average is $116.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 quarter in the prior year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal 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 paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 1.79%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 30.85%.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ABT. Barclays reissued an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. UBS Group boosted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

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.