TRUE Private Wealth Advisors Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

TRUE Private Wealth Advisors grew its position in Abbott Laboratories (NYSE:ABT) by 16.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,010 shares of the healthcare product maker’s stock after buying an additional 830 shares during the period. TRUE Private Wealth Advisors’ holdings in Abbott Laboratories were worth $662,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $28,000. Cornerstone Planning Group LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $28,000. FWL Investment Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $33,000. True Wealth Design LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $33,000. Finally, Quarry LP boosted its stake in Abbott Laboratories by 132.9% in the 2nd quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 190 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,435 shares of company stock valued at $6,451,298. 0.47% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $105.90 on Thursday. The firm has a market cap of $183.76 billion, a PE ratio of 32.48, a PEG ratio of 2.62 and a beta of 0.74. The firm has a fifty day moving average of $114.42 and a 200 day moving average of $107.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. Abbott Laboratories’s payout ratio is 67.48%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citigroup lifted their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Raymond James lifted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Barclays lifted their price objective on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Evercore ISI lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $128.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $121.54.

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.