Onyx Bridge Wealth Group LLC Has $363,000 Position in Abbott Laboratories (NYSE:ABT)

Onyx Bridge Wealth Group LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 36.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,300 shares of the healthcare product maker’s stock after purchasing an additional 882 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Abbott Laboratories were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABT. Altshuler Shaham Ltd acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $28,000. Cornerstone Planning Group LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $28,000. FWL Investment Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $33,000. True Wealth Design LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $33,000. Finally, Quarry LP lifted its stake 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 valued at $36,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity

In other news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction dated 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 sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 shares were 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 in the company, valued at $7,315,537.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,223,060. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,435 shares of company stock worth $6,451,298. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several analyst reports. Royal Bank of Canada reduced their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Citigroup lifted their target price 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. Barclays lifted their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Finally, Raymond James lifted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.31.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $2.01 on Friday, hitting $107.28. 10,533,616 shares of the company were exchanged, compared to its average volume of 5,474,096. The company’s 50 day moving average price is $114.19 and its two-hundred day moving average price is $107.65. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The firm has a market capitalization of $186.15 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.53 and a beta of 0.74.

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

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.