Parkside Financial Bank & Trust Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Parkside Financial Bank & Trust increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 27.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,364 shares of the healthcare product maker’s stock after purchasing an additional 3,497 shares during the period. Parkside Financial Bank & Trust’s holdings in Abbott Laboratories were worth $1,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ABT. Rappaport Reiches Capital Management LLC grew its holdings in Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after buying an additional 94 shares in the last quarter. Avion Wealth lifted its position in shares of Abbott Laboratories by 19.4% during the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after acquiring an additional 96 shares during the last quarter. Renaissance Investment Group LLC lifted its holdings in shares of Abbott Laboratories by 0.7% in the fourth quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock valued at $1,563,000 after purchasing an additional 100 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 1.5% in the fourth quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after purchasing an additional 100 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its holdings in shares of Abbott Laboratories by 0.7% in the fourth quarter. Tectonic Advisors LLC now owns 15,160 shares of the healthcare product maker’s stock valued at $1,669,000 after purchasing an additional 102 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABT. Raymond James restated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday. Citigroup raised their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada reduced their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Finally, Barclays reduced their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction on 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 transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, 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. Over the last 90 days, insiders have sold 56,435 shares of company stock worth $6,451,298. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Down 1.7 %

NYSE ABT traded down $1.82 on Wednesday, reaching $105.77. The company had a trading volume of 1,065,108 shares, compared to its average volume of 5,666,196. The firm has a market capitalization of $183.53 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company’s fifty day moving average is $114.00 and its 200-day moving average is $107.97.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the prior year, the business posted $1.03 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.