Stonebrook Private Inc. Makes New $489,000 Investment in Abbott Laboratories (NYSE:ABT)

Stonebrook Private Inc. purchased a new position in Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,439 shares of the healthcare product maker’s stock, valued at approximately $489,000.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Abbott Laboratories by 14,037.9% during the fourth quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker’s stock worth $148,504,000 after purchasing an additional 1,339,633 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Abbott Laboratories by 4.3% during the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock worth $3,022,564,000 after purchasing an additional 1,298,219 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Abbott Laboratories by 30.8% during the third quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock worth $351,311,000 after purchasing an additional 853,997 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Abbott Laboratories by 28.0% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,664,856 shares of the healthcare product maker’s stock worth $354,941,000 after purchasing an additional 801,191 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Abbott Laboratories by 47.7% in the third quarter. Canada Pension Plan Investment Board now owns 2,423,715 shares of the healthcare product maker’s stock valued at $234,737,000 after acquiring an additional 783,090 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ABT shares. Citigroup boosted their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays reduced their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reduced their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Finally, Raymond James reaffirmed a “buy” rating and issued a $124.00 target price 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 stock. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’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 transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,935 shares of company stock worth $1,670,048. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Trading Up 0.6 %

Shares of Abbott Laboratories stock opened at $107.53 on Monday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The company’s 50-day simple moving average is $113.64 and its 200-day simple moving average is $108.22. The firm has a market cap of $186.58 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74.

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 net margin of 13.96% and a return on equity of 20.32%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

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.