Lionshead Wealth Management LLC Takes Position in Abbott Laboratories (NYSE:ABT)

Lionshead Wealth Management LLC purchased a new position in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,889 shares of the healthcare product maker’s stock, valued at approximately $327,000.

A number of other large investors have also bought and sold shares of ABT. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC grew its position in 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 purchasing an additional 105 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories in the fourth quarter valued at $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories in the fourth quarter valued at $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ABT shares. Piper Sandler restated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Bank of America lifted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company lifted their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Raymond James raised their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Finally, Royal Bank of Canada raised their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares in the company, valued at approximately $4,417,294.90. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,278 shares of company stock valued at $12,745,859. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $133.50 on Monday. The firm has a market capitalization of $232.27 billion, a PE ratio of 17.45, a P/E/G ratio of 2.52 and a beta of 0.74. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $129.80 and a two-hundred day moving average price of $123.56. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

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.