Abbott Laboratories (NYSE:ABT) Shares Acquired by Nemes Rush Group LLC

Nemes Rush Group LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 24.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,308 shares of the healthcare product maker’s stock after acquiring an additional 660 shares during the quarter. Nemes Rush Group LLC’s holdings in Abbott Laboratories were worth $374,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABT. United Bank grew its holdings in Abbott Laboratories by 1.8% during the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock worth $3,111,000 after acquiring an additional 488 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Abbott Laboratories by 1.9% during the 3rd quarter. Edgestream Partners L.P. now owns 16,293 shares of the healthcare product maker’s stock valued at $1,858,000 after purchasing an additional 306 shares in the last quarter. Concentric Capital Strategies LP lifted its stake in shares of Abbott Laboratories by 160.6% in the 3rd quarter. Concentric Capital Strategies LP now owns 7,926 shares of the healthcare product maker’s stock valued at $904,000 after purchasing an additional 4,884 shares during the period. Investment Management Corp of Ontario boosted its holdings in Abbott Laboratories by 32.4% during the third quarter. Investment Management Corp of Ontario now owns 78,089 shares of the healthcare product maker’s stock worth $8,903,000 after buying an additional 19,100 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in Abbott Laboratories by 21.2% in the third quarter. IHT Wealth Management LLC now owns 46,352 shares of the healthcare product maker’s stock valued at $5,282,000 after buying an additional 8,117 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.7 %

Shares of ABT stock opened at $131.71 on Wednesday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The stock has a market cap of $228.42 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.52 and a beta of 0.70. The company’s 50-day moving average price is $130.74 and its 200-day moving average price is $120.61. 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 (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. As a group, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Insider Buying and Selling

In related news, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares in the company, valued at approximately $4,417,294.90. This trade represents a 1.73 % decrease in their position. The transaction 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 company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABT. Wells Fargo & Company increased their target price 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. UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Citigroup increased their target price on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Evercore ISI increased their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

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.