Abbott Laboratories (NYSE:ABT) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,130 shares of the healthcare product maker’s stock after purchasing an additional 1,103 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Abbott Laboratories were worth $3,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. boosted its position in shares of Abbott Laboratories by 6.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 76 shares during the period. LMG Wealth Partners LLC lifted its holdings in Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after buying an additional 80 shares during the last quarter. Jacobson & Schmitt Advisors LLC increased its position in shares of Abbott Laboratories by 2.9% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares in the last quarter. Glass Wealth Management Co LLC increased its position in shares of Abbott Laboratories by 3.2% during the fourth quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock worth $299,000 after purchasing an additional 81 shares in the last quarter. Finally, Sfmg LLC increased its position in shares of Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $137.65 on Wednesday. The firm’s 50-day moving average price is $124.05 and its two-hundred day moving average price is $118.28. 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 stock has a market capitalization of $238.73 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 2.52 and a beta of 0.75. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share 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 business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ABT shares. UBS Group boosted their price target on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays reiterated an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Finally, Wells Fargo & Company boosted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $137.19.

Insider Activity

In related news, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,282 shares of company stock worth $3,263,348. 1.10% of the stock is currently owned by corporate insiders.

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.