Eagle Bluffs Wealth Management LLC Increases Position in Abbott Laboratories (NYSE:ABT)

Eagle Bluffs Wealth Management LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,216 shares of the healthcare product maker’s stock after purchasing an additional 124 shares during the quarter. Eagle Bluffs Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,455,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $28,000. Cornerstone Planning Group LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $28,000. FWL Investment Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $33,000. True Wealth Design LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $33,000. Finally, Quarry LP raised its position in shares of Abbott Laboratories by 132.9% during the 2nd quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 190 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. Raymond James increased their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Royal Bank of Canada restated an “outperform” rating and set a $128.00 price target on shares of Abbott Laboratories in a report on Wednesday, February 14th. Citigroup raised their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.14.

Insider Activity

In related news, VP John A. Jr. Mccoy sold 472 shares of the company’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 owns 18,760 shares of the company’s stock, valued at $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders sold a total of 56,435 shares of company stock valued at $6,451,298 over the last 90 days. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT traded up $0.87 during trading on Tuesday, reaching $109.76. The company’s stock had a trading volume of 5,013,687 shares, compared to its average volume of 5,556,025. The firm has a market cap of $190.45 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.63 and a beta of 0.74. The business’s fifty day moving average price is $114.67 and its 200-day moving average price is $107.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. As a group, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 67.48%.

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.