Canopy Partners LLC Grows Position in Abbott Laboratories (NYSE:ABT)

Canopy Partners LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 71.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,867 shares of the healthcare product maker's stock after acquiring an additional 5,782 shares during the period. Canopy Partners LLC's holdings in Abbott Laboratories were worth $1,568,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment raised its position in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker's stock worth $26,000 after buying an additional 41,557 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC grew its holdings in shares of 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 purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the fourth quarter valued at approximately $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.9 %

Shares of ABT stock traded up $2.34 during midday trading on Friday, reaching $126.84. 7,355,410 shares of the stock were exchanged, compared to its average volume of 6,003,334. The firm has a market cap of $219.98 billion, a PE ratio of 16.58, a price-to-earnings-growth 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. The company's 50 day moving average is $130.75 and its two-hundred day moving average is $121.34. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

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Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. On average, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio is 30.85%.

Analyst Ratings Changes

Several research firms have recently weighed in on ABT. The Goldman Sachs Group raised their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Bank of America lifted 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. StockNews.com cut Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Stifel Nicolaus upped their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $137.94.

Insider Transactions at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now owns 71,928 shares of the company's stock, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 in the last ninety days. 0.46% of the stock is currently 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.