Mediolanum International Funds Ltd Boosts Position in Abbott Laboratories (NYSE:ABT)

Mediolanum International Funds Ltd raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 75.0% during the fourth quarter, HoldingsChannel reports. The firm owned 314,605 shares of the healthcare product maker’s stock after purchasing an additional 134,803 shares during the period. Mediolanum International Funds Ltd’s holdings in Abbott Laboratories were worth $35,400,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at approximately $37,000. Finally, JDM Financial Group LLC increased its holdings in Abbott Laboratories by 51.3% in the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after acquiring an additional 123 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT opened at $128.75 on Friday. The firm has a market capitalization of $223.32 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $129.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business’s 50-day simple moving average is $115.94 and its 200-day simple moving average is $113.90.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period last year, the business posted $1.19 EPS. The company’s revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Sanford C. Bernstein upped their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.