Abbott Laboratories (NYSE:ABT) Position Increased by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC raised its position in Abbott Laboratories (NYSE:ABT) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,740 shares of the healthcare product maker’s stock after purchasing an additional 932 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Abbott Laboratories were worth $852,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Rise Advisors LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $37,000. Stuart Chaussee & Associates Inc. increased its holdings in shares of Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after acquiring an additional 236 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Abbott Laboratories in the 3rd quarter valued at approximately $40,000. Finally, Cornerstone Planning Group LLC boosted its position in Abbott Laboratories by 79.4% during the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after purchasing an additional 201 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT traded down $0.02 on Friday, reaching $105.90. 3,610,492 shares of the stock traded hands, compared to its average volume of 5,320,693. The stock’s 50-day moving average price is $112.52 and its 200-day moving average price is $108.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The firm has a market cap of $183.76 billion, a price-to-earnings ratio of 32.99, a P/E/G ratio of 2.55 and a beta of 0.76. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,935 shares of company stock valued at $1,670,048. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ABT. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada lowered their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Citigroup boosted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

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.