Capital Advantage Inc. Buys Shares of 5,087 Abbott Laboratories (NYSE:ABT)

Capital Advantage Inc. bought a new position in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 5,087 shares of the healthcare product maker’s stock, valued at approximately $575,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at about $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC boosted its holdings in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares during the last quarter. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares of the company’s stock, valued at $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 a total of 95,278 shares of company stock valued at $12,745,859 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

ABT opened at $132.52 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The stock has a market capitalization of $230.56 billion, a P/E ratio of 17.32, a P/E/G ratio of 2.52 and a beta of 0.74. The business has a 50 day simple moving average of $130.14 and a 200-day simple moving average of $123.08.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share 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 business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.61%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Morgan Stanley raised their price target 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. Barclays lifted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, UBS Group raised their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

Abbott Laboratories Company 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.