Occudo Quantitative Strategies LP Invests $457,000 in Abbott Laboratories (NYSE:ABT)

Occudo Quantitative Strategies LP bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,038 shares of the healthcare product maker's stock, valued at approximately $457,000.

Other institutional investors have also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $26,000. NewSquare Capital LLC lifted its holdings in shares of 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 purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ABT shares. Royal Bank of Canada upped 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. UBS Group increased their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. The Goldman Sachs Group increased their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. 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 report on Thursday, April 17th. Finally, Barclays increased their target price on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.59.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares of the company's stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,278 shares of company stock worth $12,745,859 in the last quarter. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $133.39 on Friday. 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 12-month low of $99.71 and a 12-month high of $141.23. The stock has a 50-day moving average price of $129.31 and a 200 day moving average price of $123.88. The stock has a market capitalization of $232.08 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.52 and a beta of 0.74.

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, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, April 15th. Abbott Laboratories's dividend payout ratio is presently 30.61%.

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.

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