Cary Street Partners Financial LLC Takes $6.09 Million Position in Abbott Laboratories (NYSE:ABT)

Cary Street Partners Financial LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 53,795 shares of the healthcare product maker's stock, valued at approximately $6,085,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in Abbott Laboratories in the 4th quarter valued at $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. NewSquare Capital LLC lifted its position in 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 buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares of the company's stock, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director now owns 34,058 shares of the company's stock, valued at $4,415,960.28. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,278 shares of company stock worth $12,745,859. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT traded down $0.50 during trading on Friday, hitting $133.50. 4,976,102 shares of the company's stock traded hands, compared to its average volume of 6,124,498. 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 50-day moving average price of $129.80 and a 200-day moving average price of $123.46. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a market cap of $232.27 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $10.38 billion. As a group, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Analyst Ratings Changes

ABT has been the topic of several research analyst reports. Raymond James increased 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. Stifel Nicolaus lifted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Royal Bank of Canada raised their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Barclays boosted their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Finally, StockNews.com lowered shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Four 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 company's stock. Based on data from MarketBeat.com, Abbott Laboratories 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.