2,070 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,070 shares of the healthcare product maker's stock, valued at approximately $234,000.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after acquiring an additional 739,260 shares in the last quarter. Geode Capital Management LLC increased its position in Abbott Laboratories by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock worth $4,023,027,000 after buying an additional 765,636 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock valued at $2,985,233,000 after buying an additional 581,325 shares in the last quarter. Norges Bank bought a new position in Abbott Laboratories in the 4th quarter worth about $2,373,461,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Abbott Laboratories by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,940,321 shares of the healthcare product maker's stock worth $1,463,680,000 after purchasing an additional 330,844 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the sale, the executive vice president now directly owns 74,381 shares of the company's stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,449 shares of company stock worth $15,463,316. Corporate insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABT shares. Citigroup lifted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. UBS Group lifted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Stifel Nicolaus increased 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, Argus raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Four investment 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 stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.94.

Abbott Laboratories Trading Up 4.6 %

NYSE:ABT traded up $5.82 during trading hours on Wednesday, reaching $132.04. 7,571,635 shares of the stock were exchanged, compared to its average volume of 6,038,594. The company has a market capitalization of $229.00 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $130.62 and a two-hundred day moving average of $121.54.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly 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. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, equities 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 given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's payout ratio is 30.85%.

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.