Taylor Financial Group Inc. Makes New Investment in Abbott Laboratories (NYSE:ABT)

Taylor Financial Group Inc. bought a new stake in Abbott Laboratories (NYSE:ABTFree Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,295 shares of the healthcare product maker’s stock, valued at approximately $253,000.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Perigon Wealth Management LLC raised its holdings in shares of Abbott Laboratories by 5.2% in the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock valued at $5,182,000 after buying an additional 2,317 shares during the last quarter. VisionPoint Advisory Group LLC lifted its position in Abbott Laboratories by 7.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after acquiring an additional 215 shares during the period. Gradient Investments LLC grew its stake in shares of Abbott Laboratories by 4.7% in the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock valued at $28,344,000 after purchasing an additional 11,508 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $16,764,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $2,111,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Citigroup lowered their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Barclays cut their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Get Our Latest Research Report on ABT

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $0.22 during midday trading on Friday, hitting $103.67. 3,682,014 shares of the stock were exchanged, compared to its average volume of 5,669,745. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $105.66 and a 200-day moving average price of $110.05. The stock has a market cap of $180.35 billion, a P/E ratio of 32.30, a PEG ratio of 2.51 and a beta of 0.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Abbott Laboratories Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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