DORCHESTER WEALTH MANAGEMENT Co Increases Stock Holdings in Abbott Laboratories (NYSE:ABT)

DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 36.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,708 shares of the healthcare product maker’s stock after acquiring an additional 1,521 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Abbott Laboratories were worth $628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ABT. Altshuler Shaham Ltd acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC bought a new position in Abbott Laboratories during the second quarter valued at about $28,000. Halpern Financial Inc. bought a new stake in Abbott Laboratories during the 3rd quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in Abbott Laboratories during the 2nd quarter worth $32,000. Finally, FWL Investment Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. Insiders sold a total of 56,435 shares of company stock valued at $6,451,298 in the last three months. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ABT shares. Wells Fargo & Company increased their target price on Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Barclays raised their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Citigroup lifted their price target on shares of Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $128.00 target price on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Finally, Raymond James boosted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

View Our Latest Analysis on Abbott Laboratories

Abbott Laboratories Trading Down 0.1 %

Abbott Laboratories stock traded down $0.09 during trading hours on Wednesday, reaching $111.93. The stock had a trading volume of 706,109 shares, compared to its average volume of 5,620,528. The company has a fifty day simple moving average of $115.02 and a 200-day simple moving average of $106.74. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The stock has a market cap of $194.22 billion, a PE ratio of 34.36, a PEG ratio of 2.70 and a beta of 0.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same period last year, the company posted $1.03 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.97%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 67.48%.

Abbott Laboratories Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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