Washington Trust Bank boosted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 24.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,130 shares of the healthcare product maker's stock after buying an additional 4,173 shares during the quarter. Washington Trust Bank's holdings in Abbott Laboratories were worth $2,390,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Groupama Asset Managment raised its stake in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker's stock valued at $26,000 after buying an additional 41,557 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories during the fourth quarter valued at $26,000. NewSquare Capital LLC increased its stake in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 75.18% of the company's stock.
Abbott Laboratories Stock Performance
Shares of ABT traded down $1.75 during midday trading on Tuesday, reaching $125.46. The stock had a trading volume of 6,726,845 shares, compared to its average volume of 5,479,636. The firm has a market cap of $217.59 billion, a PE ratio of 16.40, a P/E/G ratio of 2.52 and a beta of 0.70. The firm has a 50 day simple moving average of $129.04 and a 200-day simple moving average of $120.12. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. 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 (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 quarter in the previous year, the company posted $1.19 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.
Abbott Laboratories Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's payout ratio is presently 30.85%.
Analysts Set New Price Targets
ABT has been the subject of several research reports. Wells Fargo & Company boosted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Evercore ISI boosted their target price on Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. Bank of America boosted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Finally, StockNews.com cut Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Four 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.94.
Get Our Latest Research Report on ABT
Insider Transactions at Abbott Laboratories
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the sale, the executive vice president now owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,449 shares of company stock worth $15,463,316. Company insiders own 1.10% of the company's stock.
About Abbott Laboratories
(
Free Report)
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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