Riverstone Advisors LLC Makes New $225,000 Investment in Abbott Laboratories (NYSE:ABT)

Riverstone Advisors LLC acquired a new position in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,047 shares of the healthcare product maker’s stock, valued at approximately $225,000.

A number of other hedge funds also recently modified their holdings of ABT. Altshuler Shaham Ltd acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $28,000. FWL Investment Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $33,000. True Wealth Design LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $33,000. Finally, Quarry LP raised its holdings in shares of Abbott Laboratories by 132.9% in the 2nd quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock worth $36,000 after buying an additional 190 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.0 %

Shares of Abbott Laboratories stock traded up $1.06 during trading on Tuesday, reaching $109.95. 3,769,989 shares of the company were exchanged, compared to its average volume of 5,540,460. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The business has a 50-day moving average price of $114.67 and a 200-day moving average price of $107.51. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $190.78 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.63 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same period in the prior year, the business posted $1.03 EPS. Abbott Laboratories’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders sold a total of 56,435 shares of company stock worth $6,451,298 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup raised their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Raymond James raised their price target on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $128.00 price target on shares of Abbott Laboratories in a report on Wednesday, February 14th. 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 report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.14.

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.