Vulcan Value Partners LLC Has $41.92 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Vulcan Value Partners LLC reduced its position in Abbott Laboratories (NYSE:ABT - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 370,518 shares of the healthcare product maker's stock after selling 17,604 shares during the quarter. Abbott Laboratories makes up about 0.7% of Vulcan Value Partners LLC's investment portfolio, making the stock its 28th biggest holding. Vulcan Value Partners LLC's holdings in Abbott Laboratories were worth $41,920,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ABT. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC increased its position in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after acquiring an additional 105 shares during the period. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $0.79 during mid-day trading on Thursday, hitting $131.54. 2,857,259 shares of the stock were exchanged, compared to its average volume of 7,083,145. The stock's fifty day simple moving average is $130.35 and its two-hundred day simple moving average is $122.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a market cap of $228.13 billion, a P/E ratio of 17.20, a PEG ratio of 2.52 and a beta of 0.80.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. As a group, analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Insider Transactions at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares in the company, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrea F. Wainer sold 949 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the sale, the executive vice president now directly owns 74,381 shares of the company's stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,678 shares of company stock worth $12,408,743 in the last quarter. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 17th. Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Tuesday, January 28th. Barclays increased their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $142.59.

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.