Tower Research Capital LLC TRC Boosts Stake in Abbott Laboratories (NYSE:ABT)

Tower Research Capital LLC TRC grew its position in Abbott Laboratories (NYSE:ABT - Free Report) by 165.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,342 shares of the healthcare product maker's stock after acquiring an additional 55,643 shares during the quarter. Tower Research Capital LLC TRC's holdings in Abbott Laboratories were worth $10,105,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $26,000. NewSquare Capital LLC raised its stake in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Raymond James raised their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a report on Thursday, April 17th. The Goldman Sachs Group increased their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Citigroup boosted 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. Finally, Evercore ISI lifted their price objective on Abbott Laboratories to $136.00 and gave the stock a "buy" rating in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average price target of $142.59.

Insider Transactions at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value 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 approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Shroff sold 562 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the transaction, the senior vice president now directly owns 31,970 shares in the company, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock worth $15,463,316 in the last three months. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 0.4 %

NYSE:ABT traded down $0.46 during mid-day trading on Thursday, reaching $129.38. The company's stock had a trading volume of 6,590,026 shares, compared to its average volume of 6,052,256. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company's fifty day simple moving average is $130.59 and its two-hundred day simple moving average is $122.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market cap of $224.39 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.52 and a beta of 0.80.

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

Abbott Laboratories Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.82%. Abbott Laboratories's dividend payout ratio is presently 30.61%.

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.