Silverlake Wealth Management LLC Takes Position in Abbott Laboratories (NYSE:ABT)

Silverlake Wealth Management LLC bought a new stake in Abbott Laboratories (NYSE:ABTFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,954 shares of the healthcare product maker’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alta Capital Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth about $550,000. Osborne Partners Capital Management LLC boosted its holdings in Abbott Laboratories by 2.4% during the fourth quarter. Osborne Partners Capital Management LLC now owns 114,666 shares of the healthcare product maker’s stock worth $12,621,000 after buying an additional 2,665 shares in the last quarter. apricus wealth LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth about $349,000. Norris Perne & French LLP MI boosted its holdings in Abbott Laboratories by 1.7% during the fourth quarter. Norris Perne & French LLP MI now owns 142,583 shares of the healthcare product maker’s stock worth $15,694,000 after buying an additional 2,359 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in Abbott Laboratories by 29.0% during the fourth quarter. Palumbo Wealth Management LLC now owns 5,268 shares of the healthcare product maker’s stock worth $580,000 after buying an additional 1,184 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.6 %

ABT stock traded down $0.65 on Tuesday, hitting $111.44. 746,123 shares of the company were exchanged, compared to its average volume of 5,638,144. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The business’s fifty day moving average is $115.06 and its two-hundred day moving average is $106.67. The stock has a market capitalization of $193.37 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.74 and a beta of 0.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. Abbott Laboratories’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 67.48%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. Insiders sold a total of 56,435 shares of company stock worth $6,451,298 over the last ninety days. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Raymond James boosted their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada restated an “outperform” rating and set a $128.00 target price on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Citigroup lifted their target price on shares of Abbott Laboratories from $123.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Finally, Barclays lifted their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.77.

Check Out Our Latest Report on Abbott Laboratories

Abbott Laboratories Profile

(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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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