iA Global Asset Management Inc. Grows Holdings in Abbott Laboratories (NYSE:ABT)

iA Global Asset Management Inc. boosted its stake in Abbott Laboratories (NYSE:ABT) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,343 shares of the healthcare product maker’s stock after acquiring an additional 12,768 shares during the period. iA Global Asset Management Inc.’s holdings in Abbott Laboratories were worth $10,671,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment raised its position in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the period. Noble Wealth Management PBC bought a new stake in Abbott Laboratories in the fourth quarter worth about $26,000. NewSquare Capital LLC raised its position in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares during the period. Rialto Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $34,000. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABT shares. Bank of America boosted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their price target 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. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Abbott Laboratories Price Performance

ABT stock opened at $127.64 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The stock has a market cap of $221.37 billion, a PE ratio of 16.68, a P/E/G ratio of 2.52 and a beta of 0.70. The firm has a 50 day simple moving average of $127.98 and a two-hundred day simple moving average of $119.73.

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

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the 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 owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 in the last quarter. Company insiders own 1.10% of the company’s stock.

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.