Parallel Advisors LLC Has $14.24 Million Position in Abbott Laboratories (NYSE:ABT)

Parallel Advisors LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,869 shares of the healthcare product maker’s stock after acquiring an additional 4,544 shares during the period. Parallel Advisors LLC’s holdings in Abbott Laboratories were worth $14,237,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Cape Investment Advisory Inc. boosted its position in shares of Abbott Laboratories by 6.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 76 shares during the period. Jacobson & Schmitt Advisors LLC boosted its holdings in Abbott Laboratories by 2.9% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after buying an additional 80 shares during the period. LMG Wealth Partners LLC increased its stake in Abbott Laboratories by 3.8% in the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after buying an additional 80 shares in the last quarter. Glass Wealth Management Co LLC lifted its position in shares of Abbott Laboratories by 3.2% in the fourth quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock valued at $299,000 after acquiring an additional 81 shares in the last quarter. Finally, Austin Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 4.0% in the fourth quarter. Austin Wealth Management LLC now owns 2,134 shares of the healthcare product maker’s stock worth $242,000 after acquiring an additional 83 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ABT shares. Stifel Nicolaus boosted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Bank of America lifted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, UBS Group lifted their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.94.

Abbott Laboratories Stock Down 2.2 %

NYSE ABT opened at $127.02 on Monday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The firm has a market capitalization of $220.29 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.52 and a beta of 0.70. The company has a fifty day moving average of $127.16 and a two-hundred day moving average of $119.47. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period last year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.86%. Abbott Laboratories’s payout ratio is currently 30.85%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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 directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock worth $15,463,316 over the last three months. 1.10% of the stock is owned by corporate insiders.

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.