Abbott Laboratories (NYSE:ABT) Shares Purchased by MJP Associates Inc. ADV

MJP Associates Inc. ADV boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,367 shares of the healthcare product maker’s stock after purchasing an additional 160 shares during the period. MJP Associates Inc. ADV’s holdings in Abbott Laboratories were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Three Seasons Wealth LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $1,428,000. Welch Group LLC lifted its holdings in Abbott Laboratories by 5.3% in the fourth quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock valued at $7,744,000 after acquiring an additional 3,479 shares during the period. Voleon Capital Management LP acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Abbott Laboratories by 5.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock worth $133,691,000 after purchasing an additional 57,499 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after purchasing an additional 2,774 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 1.0%

Shares of NYSE:ABT opened at $131.90 on Tuesday. The business has a 50-day moving average price of $129.69 and a 200 day moving average price of $123.68. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $229.49 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating 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. Sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.61%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Bank of America raised their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Insider Activity

In other news, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. The trade was a 55.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,278 shares of company stock valued at $12,745,859. 0.46% of the stock is currently owned by corporate insiders.

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.