Guardian Capital Advisors LP raised its holdings in Abbott Laboratories (NYSE:ABT – Get Rating) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,300 shares of the healthcare product maker’s stock after purchasing an additional 150 shares during the quarter. Guardian Capital Advisors LP’s holdings in Abbott Laboratories were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. JDM Financial Group LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $26,000. WFA of San Diego LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $34,000. Arcus Capital Partners LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $35,000. Elequin Securities LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in shares of Abbott Laboratories by 283.3% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 391 shares of the healthcare product maker’s stock valued at $43,000 after acquiring an additional 289 shares during the period. Hedge funds and other institutional investors own 72.93% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on ABT. Wells Fargo & Company reduced their price target on shares of Abbott Laboratories from $140.00 to $136.00 and set an “overweight” rating for the company in a research report on Wednesday, April 5th. SVB Leerink lifted their price objective on Abbott Laboratories from $90.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, March 31st. UBS Group lifted their price objective on Abbott Laboratories from $117.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, April 20th. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. Finally, Barclays lifted their price objective on Abbott Laboratories from $125.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $121.26.
Abbott Laboratories Stock Down 0.3 %
Abbott Laboratories (NYSE:ABT – Get Rating) last announced its quarterly earnings results on Wednesday, April 19th. The healthcare product maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.64 billion. Abbott Laboratories had a net margin of 13.98% and a return on equity of 22.36%. The firm’s revenue was down 18.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. Equities research analysts forecast that Abbott Laboratories will post 4.39 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a $0.51 dividend. The ex-dividend date is Thursday, July 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.01%. Abbott Laboratories’s payout ratio is currently 62.01%.
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories news, EVP Andrea F. Wainer sold 8,226 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $110.56, for a total value of $909,466.56. Following the completion of the transaction, the executive vice president now directly owns 70,427 shares of the company’s stock, valued at approximately $7,786,409.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $111.02, for a total value of $5,551,000.00. Following the sale, the director now owns 6,825,316 shares in the company, valued at approximately $757,746,582.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 8,226 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $110.56, for a total transaction of $909,466.56. Following the completion of the sale, the executive vice president now owns 70,427 shares in the company, valued at approximately $7,786,409.12. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
About Abbott Laboratories
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Abbott Laboratories (ABT)
- Can Cardinal Health Fly Higher In 2023?
- DraftKings Stock, Is There Royally Good Upside Ahead?
- Disney Stock Could Double: Return To Historical Performance
- For AI Exposure, Try Global Artificial Intelligence ETF
- 3 Penny Stocks The Insiders Are BuyingÂ
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT – Get Rating).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.
