Tritonpoint Wealth LLC Grows Position in Abbott Laboratories (NYSE:ABT)

Tritonpoint Wealth LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,348 shares of the healthcare product maker’s stock after buying an additional 642 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Abbott Laboratories were worth $6,487,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Groupama Asset Managment lifted its position in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth about $31,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the third quarter worth about $32,000. Valued Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’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 directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $127.69 on Friday. The firm has a market capitalization of $221.47 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.38 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock’s 50 day moving average price is $116.37 and its 200 day moving average price is $114.17. Abbott Laboratories has a one year low of $99.71 and a one year high of $129.85.

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

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ABT shares. UBS Group raised their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Barclays reaffirmed an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Evercore ISI raised their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Sanford C. Bernstein increased their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.06.

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.