Abbott Laboratories (NYSE:ABT) Shares Acquired by Aureus Asset Management LLC

Posted by Defense World Staff on Jun 14th, 2023

Aureus Asset Management LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT – Get Rating) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,304 shares of the healthcare product maker’s stock after purchasing an additional 703 shares during the period. Aureus Asset Management LLC’s holdings in Abbott Laboratories were worth $7,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABT. JDM Financial Group LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $26,000. WFA of San Diego LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $34,000. Arcus Capital Partners LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $35,000. Elequin Securities LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in shares of Abbott Laboratories by 283.3% in 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 in the last quarter. 72.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ABT shares. Bank of America reduced their price target on shares of Abbott Laboratories from $125.00 to $115.00 in a research report on Thursday, March 30th. SVB Leerink upped their price target on shares of Abbott Laboratories from $90.00 to $102.00 and gave the company a “market perform” rating in a research report on Friday, March 31st. UBS Group upped their price target on shares of Abbott Laboratories from $117.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, April 20th. Wolfe Research reduced their price target on shares of Abbott Laboratories from $107.00 to $103.00 and set an “underperform” rating for the company in a research report on Thursday, April 20th. Finally, BTIG Research upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.26.

Insider Activity at Abbott Laboratories

In related news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 6,825,316 shares in the company, valued at approximately $757,746,582.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 8,226 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 70,427 shares of the company’s stock, valued at approximately $7,786,409.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $111.02, for a total transaction of $5,551,000.00. Following the completion of the sale, the director now directly owns 6,825,316 shares of the company’s stock, valued at $757,746,582.32. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

Shares of ABT opened at $101.86 on Wednesday. The company’s fifty day moving average is $106.56 and its 200-day moving average is $106.35. Abbott Laboratories has a 12 month low of $93.25 and a 12 month high of $115.69. The firm has a market cap of $177.13 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 4.56 and a beta of 0.67. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.39.

Abbott Laboratories (NYSE:ABT – Get Rating) last posted its earnings results on Wednesday, April 19th. The healthcare product maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Abbott Laboratories had a net margin of 13.98% and a return on equity of 22.36%. The business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.64 billion. During the same period last year, the business posted $1.73 EPS. Abbott Laboratories’s revenue was down 18.1% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.39 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.00%. Abbott Laboratories’s payout ratio is presently 62.01%.

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.

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

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