Abbott Laboratories (NYSE:ABT) Shares Acquired by Family Legacy Inc.

Family Legacy Inc. raised its stake in Abbott Laboratories (NYSE:ABT) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,800 shares of the healthcare product maker’s stock after acquiring an additional 170 shares during the period. Family Legacy Inc.’s holdings in Abbott Laboratories were worth $1,005,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $26,000. NewSquare Capital LLC lifted its position in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $34,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Abbott Laboratories 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 value of $131,123.33. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock worth $15,463,316 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.4 %

Shares of ABT opened at $130.81 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. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The firm has a market capitalization of $226.87 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.52 and a beta of 0.70. The firm’s 50-day moving average price is $130.05 and its 200-day moving average price is $120.39.

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

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 30.85%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABT. Evercore ISI boosted their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Stifel Nicolaus upped their target price 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 Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group lifted their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $137.94.

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.