Foster Group Inc. Sells 618 Shares of Abbott Laboratories (NYSE:ABT)

Foster Group Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 8.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,432 shares of the healthcare product maker’s stock after selling 618 shares during the period. Foster Group Inc.’s holdings in Abbott Laboratories were worth $728,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ABT. Magnolia Capital Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $314,000. Quarry LP raised its stake in Abbott Laboratories by 231.0% in the second quarter. Quarry LP now owns 1,996 shares of the healthcare product maker’s stock valued at $207,000 after buying an additional 1,393 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 31.2% in the second quarter. EP Wealth Advisors LLC now owns 53,288 shares of the healthcare product maker’s stock worth $5,537,000 after acquiring an additional 12,670 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $4,701,000. Finally, 3Chopt Investment Partners LLC acquired a new position in shares of Abbott Laboratories during the second quarter valued at about $783,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $127.28 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $129.85. The stock’s 50-day moving average price is $115.50 and its 200-day moving average price is $113.64. The stock has a market capitalization of $220.76 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 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 analysts’ expectations of $11.03 billion. During the same period in the previous year, the business earned $1.19 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.85%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABT. UBS Group boosted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Barclays restated an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday. Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Finally, Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.