Abbott Laboratories (NYSE:ABT) Shares Acquired by Cullen Investment Group LTD.

Cullen Investment Group LTD. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,034 shares of the healthcare product maker’s stock after purchasing an additional 175 shares during the quarter. Cullen Investment Group LTD.’s holdings in Abbott Laboratories were worth $456,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at $32,000. Finally, Highline Wealth Partners LLC acquired a new position in Abbott Laboratories in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $113.12 on Tuesday. The business has a 50-day moving average of $115.23 and a 200-day moving average of $112.60. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The company has a market capitalization of $196.20 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. 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 issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.09%. 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 71.73%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Barclays increased their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Mizuho increased their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

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.