Mirador Capital Partners LP lifted its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 226.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,163 shares of the healthcare product maker’s stock after acquiring an additional 7,053 shares during the period. Mirador Capital Partners LP’s holdings in Abbott Laboratories were worth $1,273,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ABT. Cloud Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth about $29,000. Guerra Advisors Inc acquired a new stake in Abbott Laboratories during the third quarter worth approximately $31,000. Delos Wealth Advisors LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at $32,000. Bridge Generations Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter worth $33,000. Finally, Copia Wealth Management purchased a new stake in shares of Abbott Laboratories in the third quarter valued at $38,000. Institutional investors and hedge funds own 75.18% of the company’s stock.
Abbott Laboratories Trading Down 0.4%
Shares of ABT opened at $104.12 on Friday. Abbott Laboratories has a one year low of $102.41 and a one year high of $139.06. The stock has a 50-day moving average price of $110.82 and a 200 day moving average price of $122.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.18 and a current ratio of 1.58. The company has a market capitalization of $181.35 billion, a P/E ratio of 27.99, a P/E/G ratio of 1.66 and a beta of 0.74.
Abbott Laboratories Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 67.74%.
Insider Transactions at Abbott Laboratories
In other Abbott Laboratories news, EVP Mary K. Moreland sold 613 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $115.58, for a total transaction of $70,850.54. Following the sale, the executive vice president owned 104,291 shares in the company, valued at $12,053,953.78. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth C. Cushman sold 263 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $115.58, for a total value of $30,397.54. Following the completion of the sale, the executive vice president owned 38,573 shares of the company’s stock, valued at $4,458,267.34. This trade represents a 0.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,055 shares of company stock valued at $353,097 over the last 90 days. Corporate insiders own 0.46% of the company’s stock.
Wall Street Analyst Weigh In
ABT has been the topic of a number of research analyst reports. Royal Bank Of Canada decreased their price target on Abbott Laboratories from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, January 23rd. Oppenheimer dropped their price target on shares of Abbott Laboratories from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, January 23rd. The Goldman Sachs Group decreased their price target on shares of Abbott Laboratories from $152.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Barclays dropped their price objective on Abbott Laboratories from $169.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Finally, Argus reduced their target price on Abbott Laboratories from $150.00 to $140.00 in a report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $136.16.
Get Our Latest Report on Abbott Laboratories
Abbott Laboratories Profile
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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