Cassady Schiller Wealth Management LLC Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Cassady Schiller Wealth Management LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,651 shares of the healthcare product maker’s stock after buying an additional 96 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Abbott Laboratories were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Signaturefd LLC grew its stake in Abbott Laboratories by 1.7% in the 4th quarter. Signaturefd LLC now owns 46,462 shares of the healthcare product maker’s stock valued at $5,255,000 after buying an additional 766 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Abbott Laboratories by 3.7% during the 4th quarter. Parallel Advisors LLC now owns 125,869 shares of the healthcare product maker’s stock valued at $14,237,000 after purchasing an additional 4,544 shares in the last quarter. Cibc World Markets Corp grew its position in shares of Abbott Laboratories by 16.0% during the 4th quarter. Cibc World Markets Corp now owns 273,928 shares of the healthcare product maker’s stock valued at $30,984,000 after purchasing an additional 37,826 shares in the last quarter. Gold Investment Management Ltd. grew its position in shares of Abbott Laboratories by 1.1% during the 4th quarter. Gold Investment Management Ltd. now owns 10,256 shares of the healthcare product maker’s stock valued at $1,160,000 after purchasing an additional 109 shares in the last quarter. Finally, Signature Wealth Management Group grew its position in shares of Abbott Laboratories by 4.1% during the 4th quarter. Signature Wealth Management Group now owns 2,213 shares of the healthcare product maker’s stock valued at $250,000 after purchasing an additional 88 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction 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 approximately $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’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 transaction of $12,199,967.94. Following the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI boosted their price target on shares of 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 company a “buy” rating in a research report on Monday, March 10th. Stifel Nicolaus boosted their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Citigroup lifted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Four equities 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.94.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $127.02 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $127.16 and a 200-day moving average of $119.47. The firm has a market cap of $220.29 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23.

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

Abbott Laboratories Announces Dividend

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

Abbott Laboratories Company 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.