Overbrook Management Corp Has $859,000 Stake in Abbott Laboratories (NYSE:ABT)

Overbrook Management Corp increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 13.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,804 shares of the healthcare product maker’s stock after acquiring an additional 900 shares during the period. Overbrook Management Corp’s holdings in Abbott Laboratories were worth $859,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $40,000. Cornerstone Planning Group LLC lifted its position in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after acquiring an additional 201 shares during the period. Bfsg LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $51,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABT shares. Royal Bank of Canada dropped their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Barclays lowered their target price 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. Citigroup lifted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Raymond James reiterated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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 have sold a total of 56,435 shares of company stock valued at $6,451,298 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $107.51 on Friday. The business’s 50 day moving average price is $113.64 and its two-hundred day moving average price is $108.03. The company has a market cap of $186.55 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 2.57 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 twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

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 given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.