Personal CFO Solutions LLC Increases Stake in Abbott Laboratories (NYSE:ABT)


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Personal CFO Solutions LLC grew its position in Abbott Laboratories (NYSE:ABT) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,156 shares of the healthcare product maker’s stock after acquiring an additional 1,506 shares during the quarter. Personal CFO Solutions LLC’s holdings in Abbott Laboratories were worth $2,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABT. Atlas Private Wealth Advisors increased its stake in Abbott Laboratories by 107.3% in the 4th quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock worth $25,000 after buying an additional 118 shares during the period. Stuart Chaussee & Associates Inc. bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $29,000. Black Swift Group LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $35,000. PrairieView Partners LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $41,000. Finally, Birchcreek Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $44,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the stock. Credit Suisse Group raised their price target on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 28th. BTIG Research upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, January 28th. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. Cowen lifted their target price on shares of Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. Finally, SVB Leerink lifted their target price on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a research note on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $122.26.

ABT traded down $1.05 during trading on Tuesday, reaching $121.50. 133,892 shares of the company’s stock were exchanged, compared to its average volume of 5,381,432. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $128.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. The stock has a market capitalization of $215.34 billion, a P/E ratio of 64.84, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. The company’s fifty day simple moving average is $118.10 and its 200-day simple moving average is $109.83.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Tuesday, January 26th. The healthcare product maker reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company had revenue of $10.70 billion during the quarter, compared to analyst estimates of $9.94 billion. During the same period last year, the firm posted $0.95 EPS. Abbott Laboratories’s revenue for the quarter was up 28.7% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 3.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 55.56%.

In other news, Director Phebe N. Novakovic sold 4,790 shares of Abbott Laboratories stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $107.28, for a total transaction of $513,871.20. Following the completion of the transaction, the director now directly owns 34,446 shares of the company’s stock, valued at approximately $3,695,366.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mary K. Moreland sold 505 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total transaction of $64,887.45. Following the transaction, the executive vice president now directly owns 63,878 shares of the company’s stock, valued at $8,207,684.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,045 shares of company stock valued at $2,881,071. Insiders own 1.70% of the company’s stock.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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