CWA Asset Management Group LLC Grows Position in Abbott Laboratories (NYSE:ABT)

Posted by Defense World Staff on Mar 19th, 2023

CWA Asset Management Group LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT – Get Rating) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,176 shares of the healthcare product maker’s stock after buying an additional 768 shares during the quarter. CWA Asset Management Group LLC’s holdings in Abbott Laboratories were worth $568,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Insight Inv LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth $26,000. EdgeRock Capital LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $29,000. Newbridge Financial Services Group Inc. boosted its position in shares of Abbott Laboratories by 148.4% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 477 shares of the healthcare product maker’s stock valued at $46,000 after acquiring an additional 285 shares during the last quarter. Vienna Asset Management LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $51,000. Finally, Johnson Midwest Financial LLC boosted its position in shares of Abbott Laboratories by 28.7% during the 3rd quarter. Johnson Midwest Financial LLC now owns 560 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Abbott Laboratories from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. Mizuho boosted their price target on shares of Abbott Laboratories from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, January 24th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Sanford C. Bernstein upped their target price on shares of Abbott Laboratories from $125.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. Finally, Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

Insider Buying and Selling

In related news, EVP Andrea F. Wainer sold 679 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $100.70, for a total transaction of $68,375.30. Following the sale, the executive vice president now directly owns 70,427 shares in the company, valued at $7,091,998.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 679 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $100.70, for a total value of $68,375.30. Following the transaction, the executive vice president now directly owns 70,427 shares in the company, valued at $7,091,998.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Randel William Woodgrift sold 1,032 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $100.70, for a total transaction of $103,922.40. Following the completion of the transaction, the senior vice president now owns 52,203 shares in the company, valued at $5,256,842.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,971 shares of company stock worth $199,140. Company insiders own 0.52% of the company’s stock.

Abbott Laboratories Stock Down 2.0 %

Shares of ABT opened at $97.01 on Friday. The stock has a market capitalization of $168.60 billion, a PE ratio of 24.81, a P/E/G ratio of 4.38 and a beta of 0.68. Abbott Laboratories has a 1 year low of $93.25 and a 1 year high of $124.36. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.23 and a current ratio of 1.63. The company’s 50-day simple moving average is $106.80 and its 200-day simple moving average is $104.88.

Abbott Laboratories (NYSE:ABT – Get Rating) last released its earnings results on Wednesday, January 25th. The healthcare product maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. Abbott Laboratories had a net margin of 15.88% and a return on equity of 26.09%. The firm had revenue of $10.09 billion for the quarter, compared to analyst estimates of $9.69 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. Analysts forecast that Abbott Laboratories will post 4.38 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.10%. Abbott Laboratories’s payout ratio is 52.17%.

Abbott Laboratories Company Profile

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.