Ritholtz Wealth Management Raises Position in Abbott Laboratories (NYSE:ABT)

Ritholtz Wealth Management lifted its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,046 shares of the healthcare product maker’s stock after purchasing an additional 848 shares during the period. Ritholtz Wealth Management’s holdings in Abbott Laboratories were worth $4,078,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Halpern Financial Inc. purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at approximately $28,000. CGC Financial Services LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Finally, FWL Investment Management LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $128.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Citigroup lifted their price objective on shares of Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Raymond James raised their price target on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Read Our Latest Stock Analysis on ABT

Insiders Place Their Bets

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 over the last three months. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $113.64 on Friday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The company has a market capitalization of $197.19 billion, a P/E ratio of 34.86, a P/E/G ratio of 2.68 and a beta of 0.75. The company has a fifty day moving average of $115.13 and a 200-day moving average of $106.42.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. As a group, equities research analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 67.48%.

Abbott Laboratories Company Profile

(Free Report)

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.

See Also

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

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