Cravens & Co Advisors LLC Purchases 145 Shares of Abbott Laboratories (NYSE:ABT)

Cravens & Co Advisors LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,939 shares of the healthcare product maker’s stock after acquiring an additional 145 shares during the quarter. Abbott Laboratories accounts for about 0.8% of Cravens & Co Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Cravens & Co Advisors LLC’s holdings in Abbott Laboratories were worth $1,011,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC increased its position in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.5 %

Shares of ABT opened at $126.08 on Wednesday. The business has a 50-day moving average of $130.62 and a 200 day moving average of $121.54. 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 has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The firm has a market cap of $218.67 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80.

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

Abbott Laboratories Announces Dividend

The company 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 dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABT. Wells Fargo & Company increased their price objective on 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 boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Stifel Nicolaus lifted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays restated an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.94.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,449 shares of company stock worth $15,463,316. 0.46% of the stock is currently owned by corporate 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.