Crowley Wealth Management Inc. Takes Position in Abbott Laboratories (NYSE:ABT)

Crowley Wealth Management Inc. acquired a new position in Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,138 shares of the healthcare product maker’s stock, valued at approximately $2,165,000. Abbott Laboratories accounts for approximately 1.9% of Crowley Wealth Management Inc.’s portfolio, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock worth $19,075,481,000 after buying an additional 739,260 shares during the period. Napatree Capital LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $211,000. Meridian Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 1.4% in the fourth quarter. Meridian Wealth Advisors LLC now owns 7,759 shares of the healthcare product maker’s stock worth $878,000 after purchasing an additional 105 shares in the last quarter. Meridian Wealth Partners LLC increased its holdings in shares of Abbott Laboratories by 2.7% during the fourth quarter. Meridian Wealth Partners LLC now owns 3,410 shares of the healthcare product maker’s stock valued at $386,000 after purchasing an additional 91 shares during the period. Finally, LPL Financial LLC lifted its holdings in Abbott Laboratories by 11.4% in the fourth quarter. LPL Financial LLC now owns 1,614,600 shares of the healthcare product maker’s stock worth $182,627,000 after purchasing an additional 164,989 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.5 %

Abbott Laboratories stock opened at $126.18 on Friday. The firm’s fifty day simple moving average is $128.51 and its 200-day simple moving average is $119.90. Abbott Laboratories has a 1-year low of $99.71 and a 1-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. The company has a market capitalization of $218.83 billion, a P/E ratio of 16.49, a P/E/G ratio of 2.52 and a beta of 0.70.

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

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays restated an “overweight” rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Evercore ISI lifted their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus upped 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. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock worth $15,463,316 in the last 90 days. 1.10% of the stock is owned by company insiders.

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.