Coldstream Capital Management Inc. Raises Stock Position in Abbott Laboratories (NYSE:ABT)

Coldstream Capital Management Inc. grew its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,346 shares of the healthcare product maker's stock after acquiring an additional 4,063 shares during the period. Coldstream Capital Management Inc.'s holdings in Abbott Laboratories were worth $8,183,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC grew its stake in shares of Abbott Laboratories by 78.4% in the fourth 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 in the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction dated 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 directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the business'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 $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares of the company's stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,678 shares of company stock valued at $12,408,743. Corporate insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ABT shares. Piper Sandler restated an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. StockNews.com lowered shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Citigroup raised their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the stock a "buy" rating in a report on Thursday, January 2nd. Finally, Raymond James upped their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

Abbott Laboratories Price Performance

NYSE:ABT traded up $0.47 during mid-day trading on Thursday, reaching $131.22. The stock had a trading volume of 2,669,109 shares, compared to its average volume of 6,068,975. The stock has a market capitalization of $227.58 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The firm has a 50 day moving average price of $130.35 and a two-hundred day moving average price of $122.71.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS 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 firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. As a group, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.80%. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.

Abbott Laboratories 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.