Foundations Investment Advisors LLC Buys 389 Shares of Abbott Laboratories (NYSE:ABT)

Posted by Defense World Staff on Mar 20th, 2023

Foundations Investment Advisors LLC increased its stake in Abbott Laboratories (NYSE:ABT – Get Rating) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,141 shares of the healthcare product maker’s stock after acquiring an additional 389 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Abbott Laboratories were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABT. Fairfield Bush & CO. bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at $131,000. United Bank grew its position in Abbott Laboratories by 7.2% in the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock valued at $3,229,000 after purchasing an additional 1,826 shares during the period. Mackenzie Financial Corp grew its position in Abbott Laboratories by 1.9% in the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock valued at $96,257,000 after purchasing an additional 15,521 shares during the period. Kinneret Advisory LLC grew its position in Abbott Laboratories by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock valued at $2,304,000 after purchasing an additional 436 shares during the period. Finally, Lumature Wealth Partners LLC grew its position in Abbott Laboratories by 636.2% in the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock valued at $262,000 after purchasing an additional 1,915 shares during the period. Institutional investors own 72.93% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, SVP Randel William Woodgrift sold 1,032 shares of the stock in a transaction on Wednesday, March 1st. The stock was 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 approximately $5,256,842.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Abbott Laboratories news, SVP Julie L. Tyler sold 260 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $103.24, for a total value of $26,842.40. Following the completion of the transaction, the senior vice president now owns 40,896 shares in the company, valued at approximately $4,222,103.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Randel William Woodgrift sold 1,032 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $100.70, for a total value of $103,922.40. Following the completion of the transaction, the senior vice president now owns 52,203 shares of the company’s stock, valued at approximately $5,256,842.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,971 shares of company stock worth $199,140. 0.52% of the stock is owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $97.01 on Monday. Abbott Laboratories has a 1-year low of $93.25 and a 1-year high of $124.36. The company has a current ratio of 1.63, a quick ratio of 1.23 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $106.80 and a two-hundred day simple moving average of $104.89. The firm has a market cap of $168.60 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 4.44 and a beta of 0.68.

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

Abbott Laboratories Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on ABT. StockNews.com began coverage on shares of Abbott Laboratories in a research report on Thursday. They issued a “buy” rating for the company. Citigroup lifted their price target on shares of Abbott Laboratories from $114.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 12th. Raymond James lifted their price target on shares of Abbott Laboratories from $109.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $125.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, January 26th. Finally, Barclays raised their price objective on Abbott Laboratories from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.67.

Abbott Laboratories 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.

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

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