Sivik Global Healthcare LLC Takes $5.78 Million Position in Abbott Laboratories (NYSE:ABT)

Sivik Global Healthcare LLC purchased a new position in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 52,500 shares of the healthcare product maker’s stock, valued at approximately $5,779,000. Abbott Laboratories accounts for about 2.4% of Sivik Global Healthcare LLC’s portfolio, making the stock its 22nd biggest position.

Several other large investors have also added to or reduced their stakes in ABT. Rise Advisors LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $37,000. Stuart Chaussee & Associates Inc. grew its holdings in shares of Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 236 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $40,000. Cornerstone Planning Group LLC lifted its stake in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the period. Finally, Legacy Financial Group LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $46,000. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABT. Barclays dropped their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Citigroup upped their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Finally, Raymond James reiterated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,935 shares of company stock valued at $1,670,048. 0.47% of the stock is owned by company insiders.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $1.33 during mid-day trading on Tuesday, reaching $105.94. The company’s stock had a trading volume of 5,073,568 shares, compared to its average volume of 5,625,535. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The stock has a market cap of $183.82 billion, a P/E ratio of 33.00, a PEG ratio of 2.59 and a beta of 0.74. The firm’s fifty day moving average price is $113.29 and its two-hundred day moving average price is $108.44. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.