Abbott Laboratories (NYSE:ABT) Shares Acquired by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC increased its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,759 shares of the healthcare product maker's stock after purchasing an additional 10,555 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Abbott Laboratories were worth $24,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Redwood Park Advisors LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the fourth quarter worth approximately $26,000. NewSquare Capital LLC grew its position in Abbott Laboratories by 78.4% during the fourth 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 period. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $28,000. Finally, Rialto Wealth Management LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

ABT opened at $128.90 on Monday. The business's 50 day moving average is $130.54 and its 200-day moving average is $122.51. The stock has a market cap of $223.55 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. On average, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed 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. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's payout ratio is presently 30.61%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup upped their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Bank of America increased their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 17th. StockNews.com downgraded shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler reissued an "overweight" rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Four research 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 stock. According to MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company'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 completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business'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 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 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 sold 116,449 shares of company stock valued at $15,463,316 over the last ninety days. Corporate insiders own 0.46% of the company's stock.

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.

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