Pineridge Advisors LLC Takes $44,000 Position in Abbott Laboratories (NYSE:ABT)

Pineridge Advisors LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 400 shares of the healthcare product maker’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories in the fourth quarter worth $29,000. True Wealth Design LLC increased its stake in Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 302 shares during the last quarter. Stuart Chaussee & Associates Inc. increased its stake in Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after acquiring an additional 236 shares during the last quarter. Rise Advisors LLC bought a new position in Abbott Laboratories in the fourth quarter valued at $37,000. Finally, Clarity Asset Management Inc. bought a new position in Abbott Laboratories in the fourth quarter valued at $42,000. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ABT shares. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Citigroup reduced their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Finally, Barclays reduced their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.64.

Abbott Laboratories Trading Up 0.2 %

Shares of Abbott Laboratories stock traded up $0.23 during trading on Friday, reaching $103.68. 3,683,145 shares of the stock were exchanged, compared to its average volume of 5,678,494. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $105.66 and its 200 day moving average is $110.05. The firm has a market cap of $180.36 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.12%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.