Parkman Healthcare Partners LLC Purchases 53,393 Shares of Abbott Laboratories (NYSE:ABT)

Parkman Healthcare Partners LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 43.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 176,994 shares of the healthcare product maker's stock after buying an additional 53,393 shares during the period. Abbott Laboratories accounts for about 2.7% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 11th biggest holding. Parkman Healthcare Partners LLC's holdings in Abbott Laboratories were worth $20,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 2.0% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,873 shares of the healthcare product maker's stock worth $551,000 after buying an additional 97 shares in the last quarter. Fiduciary Alliance LLC lifted its holdings in Abbott Laboratories by 145.6% in the 4th quarter. Fiduciary Alliance LLC now owns 17,936 shares of the healthcare product maker's stock valued at $2,029,000 after purchasing an additional 10,632 shares in the last quarter. Brookstone Capital Management boosted its position in Abbott Laboratories by 11.0% during the fourth quarter. Brookstone Capital Management now owns 47,473 shares of the healthcare product maker's stock worth $5,370,000 after acquiring an additional 4,711 shares during the last quarter. Capital Investment Advisors LLC lifted its position in Abbott Laboratories by 0.7% during the fourth quarter. Capital Investment Advisors LLC now owns 21,600 shares of the healthcare product maker's stock worth $2,443,000 after buying an additional 152 shares in the last quarter. Finally, Cooper Financial Group grew its holdings in shares of Abbott Laboratories by 12.7% in the fourth quarter. Cooper Financial Group now owns 4,680 shares of the healthcare product maker's stock valued at $529,000 after purchasing an additional 528 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 2.3%

Shares of ABT stock opened at $129.02 on Wednesday. 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 52-week low of $99.71 and a 52-week high of $141.23. The firm's 50-day moving average is $129.57 and its 200-day moving average is $123.72. The stock has a market cap of $224.47 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data 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 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. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued 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 1.83%. Abbott Laboratories's payout ratio is currently 30.61%.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories 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 sale, the director now owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the transaction, the senior vice president now owns 31,970 shares of the company's stock, valued at approximately $4,417,294.90. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,278 shares of company stock worth $12,745,859. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ABT shares. Royal Bank of Canada boosted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Piper Sandler reaffirmed 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. Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Finally, Raymond James boosted their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.59.

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.

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