HighTower Advisors LLC Has $217.46 Million Holdings in Abbott Laboratories (NYSE:ABT)

HighTower Advisors LLC decreased its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,922,521 shares of the healthcare product maker's stock after selling 14,504 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of Abbott Laboratories worth $217,456,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Natural Investments LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $4,731,000. Fairway Wealth LLC acquired a new position in Abbott Laboratories in the fourth quarter worth $45,000. Avantax Planning Partners Inc. boosted its stake in Abbott Laboratories by 2.5% in the fourth quarter. Avantax Planning Partners Inc. now owns 24,975 shares of the healthcare product maker's stock worth $2,825,000 after purchasing an additional 621 shares in the last quarter. Miller Financial Services LLC acquired a new position in Abbott Laboratories in the fourth quarter worth $791,000. Finally, Cornerstone Advisors LLC boosted its stake in Abbott Laboratories by 10.1% in the fourth quarter. Cornerstone Advisors LLC now owns 82,800 shares of the healthcare product maker's stock worth $9,366,000 after purchasing an additional 7,600 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Transactions at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the transaction, 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 SEC, which is accessible through this hyperlink. 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 value of $131,123.33. Following 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 116,449 shares of company stock valued at $15,463,316 over the last three months. Company insiders own 0.47% of the company's stock.

Abbott Laboratories Stock Down 3.5 %

Shares of Abbott Laboratories stock opened at $132.57 on Wednesday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The business has a 50-day moving average of $126.23 and a two-hundred day moving average of $119.13. The company has a market capitalization of $229.91 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

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

Abbott Laboratories Dividend Announcement

The company also recently disclosed 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 1.78%. Abbott Laboratories's dividend payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABT shares. Royal Bank of Canada restated an "outperform" rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Argus upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Barclays restated an "overweight" rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. UBS Group boosted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus upped their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $137.94.

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.

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