Abbott Laboratories (NYSE:ABT) Shares Acquired by Mariner LLC

Mariner LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,273,383 shares of the healthcare product maker’s stock after acquiring an additional 13,298 shares during the period. Mariner LLC owned 0.07% of Abbott Laboratories worth $144,029,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ABT. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC lifted its position in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $126.84 on Monday. The firm has a market capitalization of $219.98 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business’s fifty day moving average price is $130.75 and its 200 day moving average price is $121.40. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 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 Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Analysts Set New Price Targets

Several brokerages have recently commented on ABT. Bank of America upped their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Evercore ISI boosted their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. UBS Group raised their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $137.94.

Insider Activity

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock valued at $15,463,316 in the last ninety days. 0.46% of the stock is currently owned by company insiders.

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.