Wynn Capital LLC Buys New Stake in Abbott Laboratories (NYSE:ABT)

Wynn Capital LLC acquired a new position in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,329 shares of the healthcare product maker’s stock, valued at approximately $366,000.

Other large investors have also modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth about $37,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Abbott Laboratories in the third quarter worth about $40,000. Cornerstone Planning Group LLC raised its position in shares of Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after purchasing an additional 201 shares during the last quarter. Bfsg LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $51,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ABT. Raymond James restated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday. Royal Bank of Canada reduced their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Citigroup upped their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays dropped their price objective 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 given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Activity at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 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 $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,435 shares of company stock worth $6,451,298. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Trading Down 0.7 %

Shares of Abbott Laboratories stock traded down $0.70 during mid-day trading on Wednesday, hitting $106.89. The stock had a trading volume of 5,050,066 shares, compared to its average volume of 5,719,627. The firm has a 50-day moving average of $114.00 and a two-hundred day moving average of $107.97. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The firm has a market cap of $185.47 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.06%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.