Tarbox Family Office Inc. Acquires 5,751 Shares of Abbott Laboratories (NYSE:ABT)

Tarbox Family Office Inc. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,740 shares of the healthcare product maker’s stock after purchasing an additional 5,751 shares during the quarter. Abbott Laboratories accounts for about 1.0% of Tarbox Family Office Inc.’s holdings, making the stock its 16th biggest holding. Tarbox Family Office Inc.’s holdings in Abbott Laboratories were worth $5,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ABT. Signature Resources Capital Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. True Wealth Design LLC grew its holdings in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares during the last quarter. Finally, Rise Advisors LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $37,000. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Citigroup reduced their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.64.

Insider Activity

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

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded down $0.46 during trading hours on Friday, reaching $104.19. 1,224,334 shares of the stock traded hands, compared to its average volume of 5,649,699. The company has a 50 day moving average price of $104.87 and a 200 day moving average price of $110.13. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $181.25 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating 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 business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 2.11%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.