Abbott Laboratories (NYSE:ABT) Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 27.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,543 shares of the healthcare product maker’s stock after buying an additional 2,058 shares during the period. Legacy Financial Advisors Inc.’s holdings in Abbott Laboratories were worth $1,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $25,000. DRW Securities LLC purchased a new position in Abbott Laboratories during the 4th quarter worth approximately $866,000. Faithward Advisors LLC grew its position in Abbott Laboratories by 2.9% during the 4th quarter. Faithward Advisors LLC now owns 7,427 shares of the healthcare product maker’s stock worth $840,000 after purchasing an additional 206 shares in the last quarter. APG Asset Management N.V. grew its position in Abbott Laboratories by 1,480.2% during the 4th quarter. APG Asset Management N.V. now owns 1,551,626 shares of the healthcare product maker’s stock worth $169,488,000 after purchasing an additional 1,453,436 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $452,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 2.6 %

Abbott Laboratories stock opened at $127.13 on Thursday. The firm has a market cap of $220.48 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The firm has a fifty day moving average price of $130.88 and a two-hundred day moving average price of $121.17.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. As a group, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Analysts Set New Price Targets

Several research firms have recently commented on ABT. Bank of America boosted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $137.94.

Insider Activity

In related news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,449 shares of company stock valued at $15,463,316. Insiders own 0.46% of the company’s stock.

About Abbott Laboratories

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.