Octavia Wealth Advisors LLC Purchases 181 Shares of Abbott Laboratories (NYSE:ABT)

Octavia Wealth Advisors LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,520 shares of the healthcare product maker’s stock after acquiring an additional 181 shares during the period. Octavia Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rappaport Reiches Capital Management LLC increased its stake in Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after buying an additional 94 shares in the last quarter. Patriot Investment Management Group Inc. grew its position in shares of Abbott Laboratories by 3.1% during the fourth quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock valued at $356,000 after purchasing an additional 96 shares in the last quarter. Avion Wealth grew its position in shares of Abbott Laboratories by 19.4% during the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after purchasing an additional 96 shares in the last quarter. Shepherd Financial Partners LLC grew its position in shares of Abbott Laboratories by 4.5% during the fourth quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock valued at $250,000 after purchasing an additional 99 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC grew its position in shares of Abbott Laboratories by 0.5% during the first quarter. Stonebridge Capital Advisors LLC now owns 20,029 shares of the healthcare product maker’s stock valued at $2,371,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABT. Barclays raised their price objective on Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $128.00 price target on shares of Abbott Laboratories in a report on Wednesday, February 14th. Evercore ISI increased 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. Raymond James increased their price target 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. Finally, Citigroup increased their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.14.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the sale, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,435 shares of company stock worth $6,451,298. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Up 0.3 %

Shares of NYSE:ABT opened at $109.20 on Wednesday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The business has a 50 day simple moving average of $114.57 and a two-hundred day simple moving average of $107.60. The firm has a market capitalization of $189.48 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.01%. Abbott Laboratories’s payout ratio is 67.48%.

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.