Abbott Laboratories (NYSE:ABT) Shares Purchased by Core Wealth Partners LLC

Core Wealth Partners LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,208 shares of the healthcare product maker’s stock after acquiring an additional 251 shares during the quarter. Core Wealth Partners LLC’s holdings in Abbott Laboratories were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Groupama Asset Managment increased its stake in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth about $26,000. NewSquare Capital LLC raised its holdings in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of several recent analyst reports. Barclays reissued an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Bank of America boosted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. The Goldman Sachs Group increased 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. UBS Group upped their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.94.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $125.46 on Wednesday. The company has a 50-day simple moving average of $129.04 and a 200-day simple moving average of $120.12. 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 company has a market cap of $217.59 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now directly owns 31,970 shares in the company, valued at $4,417,294.90. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now 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 have sold a total of 116,449 shares of company stock worth $15,463,316 in the last three months. Company insiders own 1.10% of the company’s stock.

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.