Resonant Capital Advisors LLC Buys 284 Shares of Abbott Laboratories (NYSE:ABT)

Resonant Capital Advisors LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,627 shares of the healthcare product maker’s stock after buying an additional 284 shares during the period. Resonant Capital Advisors LLC’s holdings in Abbott Laboratories were worth $1,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Morgan Stanley boosted its position in shares of Abbott Laboratories by 14.3% during the 4th quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock valued at $4,278,132,000 after purchasing an additional 4,886,954 shares in the last quarter. Wellington Management Group LLP raised its stake in Abbott Laboratories by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock worth $3,022,564,000 after buying an additional 1,298,219 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Abbott Laboratories by 104,649.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock worth $3,320,866,000 after buying an additional 30,218,560 shares during the period. Northern Trust Corp raised its stake in Abbott Laboratories by 1.5% during the 3rd quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after buying an additional 343,559 shares during the period. Finally, Norges Bank acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $1,893,715,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,435 shares of company stock valued at $6,451,298. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

ABT stock opened at $107.29 on Friday. The firm has a market cap of $186.17 billion, a PE ratio of 33.42, a P/E/G ratio of 2.53 and a beta of 0.74. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $114.19 and a 200-day moving average of $107.65. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. Abbott Laboratories’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. As a group, sell-side analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays upped their price target on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Citigroup upped their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Raymond James increased their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.31.

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.