RFG Bristol Wealth Advisors LLC Purchases New Position in Abbott Laboratories (NYSE:ABT)

RFG Bristol Wealth Advisors LLC acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,478 shares of the healthcare product maker's stock, valued at approximately $393,000.

Several other institutional investors also recently added to or reduced their stakes in ABT. Meeder Advisory Services Inc. boosted its stake in shares of Abbott Laboratories by 1.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 27,794 shares of the healthcare product maker's stock valued at $3,144,000 after purchasing an additional 502 shares in the last quarter. Scholtz & Company LLC boosted its stake in Abbott Laboratories by 14.2% in the 4th quarter. Scholtz & Company LLC now owns 47,461 shares of the healthcare product maker's stock worth $5,368,000 after purchasing an additional 5,902 shares in the last quarter. Potomac Fund Management Inc. ADV purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $1,855,000. OV Management LLC lifted its holdings in shares of Abbott Laboratories by 8.2% during the fourth quarter. OV Management LLC now owns 16,773 shares of the healthcare product maker's stock worth $1,897,000 after purchasing an additional 1,273 shares during the period. Finally, Trexquant Investment LP boosted its holdings in Abbott Laboratories by 28.1% in the fourth quarter. Trexquant Investment LP now owns 403,618 shares of the healthcare product maker's stock valued at $45,653,000 after purchasing an additional 88,531 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Activity

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the business's stock in a transaction on 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 transaction, the executive vice president now owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,449 shares of company stock valued at $15,463,316. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Down 5.4 %

NYSE:ABT traded down $7.17 during trading hours on Friday, hitting $124.46. The stock had a trading volume of 10,775,333 shares, compared to its average volume of 5,905,172. The company has a market cap of $215.85 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The business has a 50 day simple moving average of $131.18 and a two-hundred day simple moving average of $120.84. 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 1-year low of $99.71 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $11.03 billion. During the same period in the prior year, the business posted $1.19 EPS. The business's revenue was up 7.2% on a year-over-year basis. 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. Investors of record on Tuesday, April 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.90%. Abbott Laboratories's dividend payout ratio is presently 30.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Evercore ISI raised their price target on shares of Abbott Laboratories to $136.00 and gave the stock a "buy" rating in a research note on Thursday, January 2nd. The Goldman Sachs Group increased their price target 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. Argus raised Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Citigroup upped their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $137.94.

Abbott Laboratories Company 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.