Hollow Brook Wealth Management LLC Grows Position in Abbott Laboratories (NYSE:ABT)

Hollow Brook Wealth Management LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,432 shares of the healthcare product maker’s stock after buying an additional 230 shares during the quarter. Hollow Brook Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Wellington Management Group LLP grew its stake in Abbott Laboratories by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after purchasing an additional 1,298,219 shares during the period. Northern Trust Corp grew its stake in Abbott Laboratories by 1.5% in the 3rd quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock valued at $2,229,122,000 after purchasing an additional 343,559 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Abbott Laboratories by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,153,877 shares of the healthcare product maker’s stock valued at $1,164,611,000 after purchasing an additional 32,157 shares during the period. Flossbach Von Storch AG grew its stake in Abbott Laboratories by 1.5% in the 4th quarter. Flossbach Von Storch AG now owns 9,149,611 shares of the healthcare product maker’s stock valued at $1,007,098,000 after purchasing an additional 135,821 shares during the period. Finally, Invesco Ltd. grew its stake in Abbott Laboratories by 0.4% in the 3rd quarter. Invesco Ltd. now owns 5,949,700 shares of the healthcare product maker’s stock valued at $576,228,000 after purchasing an additional 20,851 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABT. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup increased their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Barclays cut their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.50.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,935 shares of company stock valued at $1,670,048 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

ABT traded down $1.33 during trading on Tuesday, reaching $105.94. 5,073,568 shares of the company were exchanged, compared to its average volume of 5,625,535. The company’s 50-day moving average is $113.29 and its two-hundred day moving average is $108.44. The company has a market cap of $183.82 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 2.59 and a beta of 0.74. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts forecast that Abbott Laboratories will post 4.62 earnings per share 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. Shareholders of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. Abbott Laboratories’s payout ratio is currently 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.