Burling Wealth Partners LLC Buys Shares of 84,463 Abbott Laboratories (NYSE:ABT)

Burling Wealth Partners LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 84,463 shares of the healthcare product maker's stock, valued at approximately $9,554,000. Abbott Laboratories comprises approximately 1.9% of Burling Wealth Partners LLC's investment portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cape Investment Advisory Inc. increased its holdings in Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after purchasing an additional 76 shares during the last quarter. Capital Square LLC raised its holdings in shares of Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after buying an additional 77 shares during the period. Cyrus J. Lawrence LLC lifted its stake in Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock worth $107,000 after acquiring an additional 79 shares in the last quarter. LMG Wealth Partners LLC grew its position 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 valued at $244,000 after acquiring an additional 80 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC increased its stake in Abbott Laboratories by 2.9% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker's stock worth $320,000 after purchasing an additional 80 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $0.49 during trading hours on Friday, reaching $128.90. The stock had a trading volume of 4,849,055 shares, compared to its average volume of 6,073,198. The firm has a 50-day moving average of $130.54 and a 200-day moving average of $122.46. The firm has a market cap of $223.55 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $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. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 in the last ninety days. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABT. Evercore ISI lifted their price objective on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a report on Thursday, January 2nd. StockNews.com downgraded shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Piper Sandler reiterated an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Argus raised Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Four investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $142.59.

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.