NewEdge Wealth LLC Acquires 381 Shares of Abbott Laboratories (NYSE:ABT)

NewEdge Wealth LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,104 shares of the healthcare product maker’s stock after purchasing an additional 381 shares during the quarter. NewEdge Wealth LLC’s holdings in Abbott Laboratories were worth $3,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Vaughan David Investments LLC IL lifted its holdings in shares of Abbott Laboratories by 1.1% in the 4th quarter. Vaughan David Investments LLC IL now owns 423,184 shares of the healthcare product maker’s stock worth $46,580,000 after acquiring an additional 4,569 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of Abbott Laboratories by 13.8% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 3,108 shares of the healthcare product maker’s stock worth $342,000 after acquiring an additional 376 shares during the last quarter. Clarius Group LLC lifted its holdings in shares of Abbott Laboratories by 7.7% in the 4th quarter. Clarius Group LLC now owns 14,908 shares of the healthcare product maker’s stock worth $1,641,000 after acquiring an additional 1,063 shares during the last quarter. Birch Hill Investment Advisors LLC lifted its holdings in shares of Abbott Laboratories by 7.5% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 29,377 shares of the healthcare product maker’s stock worth $3,234,000 after acquiring an additional 2,052 shares during the last quarter. Finally, Hartford Financial Management Inc. lifted its holdings in shares of Abbott Laboratories by 0.4% in the 4th quarter. Hartford Financial Management Inc. now owns 50,145 shares of the healthcare product maker’s stock worth $5,519,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.6 %

NYSE:ABT opened at $109.11 on Friday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The stock has a market capitalization of $189.33 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.68 and a beta of 0.74. 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’s 50-day simple moving average is $114.72 and its 200-day simple moving average is $107.36.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same period last year, the business earned $1.03 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 67.48%.

Insider Buying and Selling

In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares in the company, valued at approximately $9,444,480. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock worth $6,451,298 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of several analyst reports. Barclays raised their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Raymond James raised their price target on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $128.00 price target on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Finally, Citigroup raised their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.14.

Abbott Laboratories Profile

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.