Abbott Laboratories (NYSE:ABT) Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 254,544 shares of the healthcare product maker’s stock after acquiring an additional 4,705 shares during the quarter. RWA Wealth Partners LLC’s holdings in Abbott Laboratories were worth $28,792,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Noble Wealth Management PBC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $26,000. NewSquare Capital LLC increased its holdings in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ABT. Barclays reaffirmed an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. The Goldman Sachs Group lifted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Bank of America increased their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Stifel Nicolaus upped their target price on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $130.81 on Friday. The company has a market cap of $226.87 billion, a P/E ratio of 17.10, a PEG ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The business’s 50-day simple moving average is $130.05 and its 200 day simple moving average is $120.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

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

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 30.85%.

Insider Activity at Abbott Laboratories

In other news, SVP Eric Shroff sold 562 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,449 shares of company stock valued at $15,463,316. Insiders own 0.46% of the company’s stock.

About Abbott Laboratories

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.