Nexus Investment Management Inc. purchased a new stake in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,500 shares of the healthcare product maker’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Gratus Capital LLC raised its holdings in shares of Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after buying an additional 1,869 shares during the last quarter. Moody Lynn & Lieberson LLC raised its holdings in shares of Abbott Laboratories by 17.1% in the third quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock valued at $17,420,000 after buying an additional 47,610 shares during the last quarter. Vantage Investment Advisors LLC raised its holdings in shares of Abbott Laboratories by 103.4% in the second quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after buying an additional 36,683 shares during the last quarter. Brightworth purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $841,000. Finally, RKL Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $227,000. 71.22% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories (NYSE ABT) opened at $57.17 on Friday. Abbott Laboratories has a one year low of $42.31 and a one year high of $64.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The stock has a market cap of $101,100.00, a PE ratio of 285.85, a PEG ratio of 1.69 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The business’s revenue was up 42.3% compared to the same quarter last year. research analysts predict that Abbott Laboratories will post 2.86 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s payout ratio is 560.00%.

In other Abbott Laboratories news, EVP Stephen R. Fussell sold 13,313 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the transaction, the executive vice president now directly owns 152,343 shares in the company, valued at $9,573,234.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total transaction of $3,913,635.00. Following the transaction, the insider now owns 144,955 shares in the company, valued at $7,972,525. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 445,615 shares of company stock worth $24,666,341. Company insiders own 0.76% of the company’s stock.

ABT has been the subject of a number of research reports. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 9th. Cowen set a $68.00 target price on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Finally, Evercore ISI initiated coverage on shares of Abbott Laboratories in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $65.47.

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Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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