Industrial Alliance Investment Management Inc. Purchases 120 Shares of Abbott Laboratories (NYSE:ABT)

Industrial Alliance Investment Management Inc. raised its position in Abbott Laboratories (NYSE:ABT) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,543 shares of the healthcare product maker’s stock after purchasing an additional 120 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Abbott Laboratories were worth $516,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ABT. Alliance Wealth Advisors LLC UT raised its position in shares of Abbott Laboratories by 0.4% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after acquiring an additional 92 shares during the last quarter. Rappaport Reiches Capital Management LLC raised its position in shares of Abbott Laboratories by 0.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after acquiring an additional 94 shares during the last quarter. Avion Wealth raised its position in shares of Abbott Laboratories by 19.4% during the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after acquiring an additional 96 shares during the last quarter. Wynn Capital LLC raised its position in shares of Abbott Laboratories by 2.9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after acquiring an additional 98 shares during the last quarter. Finally, Berger Financial Group Inc raised its position in shares of Abbott Laboratories by 3.0% during the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after acquiring an additional 99 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 0.5 %

Abbott Laboratories stock traded up $0.54 during mid-day trading on Tuesday, reaching $105.31. The stock had a trading volume of 9,126,094 shares, compared to its average volume of 5,986,718. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The stock’s 50-day simple moving average is $103.89 and its 200-day simple moving average is $109.16. The firm has a market capitalization of $183.20 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.62 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.65%. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter last year, the company earned $1.08 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Ratings Changes

Several research firms recently commented on ABT. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group began coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Finally, Citigroup decreased their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Abbott Laboratories 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.