Cairn Investment Group Inc. Grows Holdings in Abbott Laboratories (NYSE:ABT)

Cairn Investment Group Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 71.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,179 shares of the healthcare product maker’s stock after buying an additional 1,330 shares during the period. Cairn Investment Group Inc.’s holdings in Abbott Laboratories were worth $360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. New Century Financial Group LLC grew its holdings in Abbott Laboratories by 152.0% during the 2nd quarter. New Century Financial Group LLC now owns 4,836 shares of the healthcare product maker’s stock worth $502,000 after acquiring an additional 2,917 shares in the last quarter. RiverFront Investment Group LLC grew its holdings in Abbott Laboratories by 3.3% during the 2nd quarter. RiverFront Investment Group LLC now owns 9,408 shares of the healthcare product maker’s stock worth $978,000 after acquiring an additional 302 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Abbott Laboratories during the 2nd quarter worth $207,000. Brown Financial Advisors acquired a new position in Abbott Laboratories during the 2nd quarter worth $1,580,000. Finally, Creekside Partners acquired a new position in Abbott Laboratories during the 2nd quarter worth $238,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.4 %

ABT stock opened at $127.86 on Thursday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $129.85. The company has a market capitalization of $221.77 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The firm’s 50-day moving average is $115.71 and its two-hundred day moving average is $113.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the firm earned $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. 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. Barclays reaffirmed an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday. Finally, Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.06.

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.