Olympiad Research LP Takes $317,000 Position in Abbott Laboratories (NYSE:ABT)

Olympiad Research LP bought a new stake in Abbott Laboratories (NYSE:ABT) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,799 shares of the healthcare product maker’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of Abbott Laboratories by 13,194.9% during the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after acquiring an additional 1,667,170 shares during the period. Silver Oak Securities Incorporated increased its stake in shares of Abbott Laboratories by 44.7% during the third quarter. Silver Oak Securities Incorporated now owns 7,111 shares of the healthcare product maker’s stock worth $799,000 after acquiring an additional 2,197 shares during the period. Trueblood Wealth Management LLC increased its stake in shares of Abbott Laboratories by 4.3% during the third quarter. Trueblood Wealth Management LLC now owns 5,588 shares of the healthcare product maker’s stock worth $637,000 after acquiring an additional 232 shares during the period. Tarbox Family Office Inc. increased its stake in shares of Abbott Laboratories by 2.9% during the third quarter. Tarbox Family Office Inc. now owns 52,187 shares of the healthcare product maker’s stock worth $5,950,000 after acquiring an additional 1,447 shares during the period. Finally, Country Club Bank increased its stake in shares of Abbott Laboratories by 2.1% during the third quarter. Country Club Bank now owns 22,481 shares of the healthcare product maker’s stock worth $2,528,000 after acquiring an additional 469 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. UBS Group upped 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. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 1.4 %

ABT stock opened at $135.04 on Friday. The company’s 50 day simple moving average is $120.75 and its 200-day simple moving average is $116.88. The firm has a market capitalization of $234.22 billion, a PE ratio of 17.65, a P/E/G ratio of 2.48 and a beta of 0.75. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $135.41. 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 (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 the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.75%. Abbott Laboratories’s payout ratio is 30.85%.

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.