Brooklyn FI LLC Invests $1.11 Million in Abbott Laboratories (NYSE:ABT)

Brooklyn FI LLC acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,588 shares of the healthcare product maker's stock, valued at approximately $1,108,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $26,000. NewSquare Capital LLC boosted its position in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after acquiring an additional 105 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at $29,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter worth $34,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Abbott Laboratories during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares of the company's stock, valued at approximately $4,417,294.90. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, the executive vice president now directly owns 74,381 shares of the company's stock, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 over the last three months. 1.10% of the stock is owned by insiders.

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Analysts Set New Price Targets

A number of research analysts have recently commented on ABT shares. Evercore ISI upped their price objective on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research note on Thursday, January 2nd. Barclays reaffirmed an "overweight" rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Finally, Argus upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $137.94.

Abbott Laboratories Stock Up 0.8 %

ABT traded up $0.97 on Monday, reaching $127.31. The company's stock had a trading volume of 5,283,007 shares, compared to its average volume of 5,481,777. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The business's 50 day moving average is $128.51 and its 200 day moving average is $119.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market cap of $220.79 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts' consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. As a group, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. Abbott Laboratories's payout ratio is 30.85%.

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.