Aurora Private Wealth Inc. Takes Position in Abbott Laboratories (NYSE:ABT)

Aurora Private Wealth Inc. bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 79,238 shares of the healthcare product maker’s stock, valued at approximately $10,511,000. Abbott Laboratories comprises 2.7% of Aurora Private Wealth Inc.’s portfolio, making the stock its 3rd biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Brighton Jones LLC grew its holdings in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after buying an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after purchasing an additional 2,774 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth $201,000. Cookson Peirce & Co. Inc. raised its position in Abbott Laboratories by 42.0% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 7,247 shares of the healthcare product maker’s stock valued at $820,000 after purchasing an additional 2,145 shares during the period. Finally, NewSquare Capital LLC lifted its position in 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 acquiring an additional 105 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.3%

Shares of NYSE ABT opened at $133.70 on Friday. The business has a fifty day simple moving average of $133.20 and a 200-day simple moving average of $128.16. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The company has a market cap of $232.61 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.55 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. Sell-side 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 Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.77%. Abbott Laboratories’s payout ratio is currently 30.61%.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director directly owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on ABT shares. Leerink Partners began coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price objective on the stock. Bank of America increased their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Royal Bank Of Canada upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Raymond James Financial boosted their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.61.

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.