Wedbush Securities Inc. Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Wedbush Securities Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 46,885 shares of the healthcare product maker’s stock after purchasing an additional 1,498 shares during the period. Wedbush Securities Inc.’s holdings in Abbott Laboratories were worth $5,303,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ABT. Groupama Asset Managment raised its holdings in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC grew its stake in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT stock opened at $124.46 on Friday. The stock’s fifty day moving average is $131.18 and its two-hundred day moving average is $120.82. The stock has a market capitalization of $215.85 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the business posted $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABT shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Barclays reiterated an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Finally, UBS Group upped their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four investment 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.94.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction dated 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 owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the sale, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is currently owned by corporate insiders.

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.