Lord Abbett & CO. LLC Buys 188 Shares of Abbott Laboratories (NYSE:ABT)

Lord Abbett & CO. LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 0.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,710,211 shares of the healthcare product maker’s stock after buying an additional 188 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Abbott Laboratories were worth $193,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories during the fourth quarter worth $26,000. NewSquare Capital LLC raised its stake in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

NYSE:ABT opened at $129.38 on Friday. The stock has a market cap of $224.39 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $130.57 and a two-hundred day moving average price of $122.31. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. As a group, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is presently 30.61%.

Insiders Place Their Bets

In related news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at approximately $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. The trade was a 55.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,449 shares of company stock worth $15,463,316. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABT. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Raymond James boosted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Morgan Stanley increased their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Royal Bank of Canada raised their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Finally, Bank of America raised their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.59.

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.