Abbott Laboratories (NYSE:ABT) Shares Purchased by RBO & Co. LLC

RBO & Co. LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 1.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 215,897 shares of the healthcare product maker’s stock after buying an additional 3,288 shares during the quarter. Abbott Laboratories makes up about 4.0% of RBO & Co. LLC’s holdings, making the stock its 7th biggest holding. RBO & Co. LLC’s holdings in Abbott Laboratories were worth $24,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cape Investment Advisory Inc. boosted its holdings in shares of Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 76 shares during the last quarter. Capital Square LLC boosted its stake in Abbott Laboratories by 2.7% in the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after acquiring an additional 77 shares during the last quarter. Cyrus J. Lawrence LLC grew its position in shares of Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock valued at $107,000 after acquiring an additional 79 shares during the period. Jacobson & Schmitt Advisors LLC lifted its stake in Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock valued at $320,000 after purchasing an additional 80 shares during the last quarter. Finally, LMG Wealth Partners LLC increased its position in Abbott Laboratories by 3.8% in the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after buying an additional 80 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at $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 is available at this link. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This trade represents a 1.73 % decrease in their position. 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. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Up 0.8 %

ABT opened at $130.55 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $130.44 and its 200 day simple moving average is $122.65. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $226.42 billion, a PE ratio of 17.07, a P/E/G ratio of 2.52 and a beta of 0.80.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. As a group, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.81%. Abbott Laboratories’s payout ratio is 30.61%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABT. The Goldman Sachs Group increased their price target on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Raymond James upped their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Morgan Stanley lifted their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. Finally, Piper Sandler restated an “overweight” rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

About Abbott Laboratories

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.