Peak Asset Management LLC Has $1.69 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Peak Asset Management LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,777 shares of the healthcare product maker’s stock after purchasing an additional 1,220 shares during the quarter. Peak Asset Management LLC’s holdings in Abbott Laboratories were worth $1,685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Freemont Management S.A. increased its position in Abbott Laboratories by 46.6% during the 3rd quarter. Freemont Management S.A. now owns 10,000 shares of the healthcare product maker’s stock valued at $1,140,000 after purchasing an additional 3,180 shares during the period. Cable Hill Partners LLC boosted its stake in shares of Abbott Laboratories by 7.8% in the 3rd quarter. Cable Hill Partners LLC now owns 9,698 shares of the healthcare product maker’s stock valued at $1,106,000 after purchasing an additional 705 shares during the last quarter. Schrum Private Wealth Management LLC raised its stake in Abbott Laboratories by 41.8% during the third quarter. Schrum Private Wealth Management LLC now owns 16,610 shares of the healthcare product maker’s stock worth $1,894,000 after buying an additional 4,895 shares during the last quarter. Parthenon LLC lifted its holdings in Abbott Laboratories by 1.3% in the third quarter. Parthenon LLC now owns 32,063 shares of the healthcare product maker’s stock valued at $3,655,000 after buying an additional 400 shares during the period. Finally, GHE LLC grew its holdings in Abbott Laboratories by 14.8% during the 3rd quarter. GHE LLC now owns 14,472 shares of the healthcare product maker’s stock worth $1,650,000 after acquiring an additional 1,871 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT opened at $115.74 on Thursday. Abbott Laboratories has a 52 week low of $96.20 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a 50 day moving average price of $115.43 and a two-hundred day moving average price of $109.35. The firm has a market capitalization of $200.75 billion, a P/E ratio of 35.18, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released 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 during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group upped their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Raymond James reiterated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $130.07.

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.