Mariner LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,273,383 shares of the healthcare product maker's stock after purchasing an additional 13,298 shares during the period. Mariner LLC owned 0.07% of Abbott Laboratories worth $144,029,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC boosted its stake in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after acquiring an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 75.18% of the company's stock.
Abbott Laboratories Price Performance
Shares of ABT traded up $1.30 during trading hours on Friday, reaching $131.00. The company had a trading volume of 10,459,999 shares, compared to its average volume of 6,044,769. The company has a market capitalization of $227.20 billion, a price-to-earnings ratio of 17.12, a PEG 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. The firm has a 50 day simple moving average of $130.62 and a 200-day simple moving average of $121.84. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.
Abbott Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio is currently 30.85%.
Insider Buying and Selling
In other Abbott Laboratories news, 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 value of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. This represents a 55.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company's stock, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,449 shares of company stock valued at $15,463,316. Insiders own 0.46% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on ABT shares. Citigroup lifted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday. StockNews.com lowered shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. 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. Finally, Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday. Four 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 company. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.
Check Out Our Latest Analysis on ABT
About Abbott Laboratories
(
Free Report)
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.
Further Reading
Before you consider Abbott Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Abbott Laboratories wasn't on the list.
While Abbott Laboratories currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
