Abbott Laboratories (NYSE:ABT) Shares Acquired by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,010 shares of the healthcare product maker’s stock after acquiring an additional 830 shares during the period. TRUE Private Wealth Advisors’ holdings in Abbott Laboratories were worth $662,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Scissortail Wealth Management LLC acquired a new stake in Abbott Laboratories in the fourth quarter worth $1,778,000. Tyche Wealth Partners LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $1,328,000. Allen Capital Group LLC grew its stake in shares of Abbott Laboratories by 16.5% in the fourth quarter. Allen Capital Group LLC now owns 3,969 shares of the healthcare product maker’s stock worth $437,000 after purchasing an additional 562 shares in the last quarter. Eagle Bluffs Wealth Management LLC grew its stake in shares of Abbott Laboratories by 0.9% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 13,216 shares of the healthcare product maker’s stock worth $1,455,000 after purchasing an additional 124 shares in the last quarter. Finally, Wealth Alliance lifted its holdings in shares of Abbott Laboratories by 3.2% during the fourth quarter. Wealth Alliance now owns 12,939 shares of the healthcare product maker’s stock valued at $1,424,000 after purchasing an additional 403 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

ABT opened at $105.90 on Thursday. The firm has a market capitalization of $183.76 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 2.62 and a beta of 0.74. The stock’s 50 day moving average price is $114.42 and its two-hundred day moving average price is $107.59. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. On average, equities analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is presently 67.48%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABT. Citigroup increased their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Raymond James increased their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Evercore ISI increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $128.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $121.54.

Insider Transactions at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred 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 sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred 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 owns 125,697 shares in the company, valued at approximately $14,895,094.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,435 shares of company stock valued at $6,451,298. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories 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.