Resonant Capital Advisors LLC Purchases 284 Shares of Abbott Laboratories (NYSE:ABT)

Resonant Capital Advisors LLC raised its position in shares of Abbott Laboratories (NYSE:ABT) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,627 shares of the healthcare product maker’s stock after acquiring an additional 284 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Abbott Laboratories were worth $1,280,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ABT. Rappaport Reiches Capital Management LLC lifted its position in Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after acquiring an additional 94 shares in the last quarter. Patriot Investment Management Group Inc. lifted its position in Abbott Laboratories by 3.1% in the 4th quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock valued at $356,000 after acquiring an additional 96 shares in the last quarter. Avion Wealth lifted its position in Abbott Laboratories by 19.4% in the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after acquiring an additional 96 shares in the last quarter. Shepherd Financial Partners LLC lifted its position in Abbott Laboratories by 4.5% in the 4th quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock valued at $250,000 after acquiring an additional 99 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in Abbott Laboratories by 0.5% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 20,029 shares of the healthcare product maker’s stock valued at $2,371,000 after acquiring an additional 100 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 1.9 %

Shares of ABT stock opened at $107.29 on Friday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The firm has a market capitalization of $186.17 billion, a PE ratio of 33.42, a PEG ratio of 2.53 and a beta of 0.74. The stock has a fifty day simple moving average of $114.19 and a two-hundred day simple moving average of $107.65.

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

Abbott Laboratories Announces Dividend

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 given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity

In other news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders sold a total of 56,435 shares of company stock worth $6,451,298 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABT. Citigroup increased their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. 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 report on Thursday. Barclays increased their price target on Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Raymond James increased their price target on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.31.

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.