Legacy Financial Advisors Inc. Has $755,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Legacy Financial Advisors Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,858 shares of the healthcare product maker’s stock after acquiring an additional 868 shares during the period. Legacy Financial Advisors Inc.’s holdings in Abbott Laboratories were worth $755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zevenbergen Capital Investments LLC increased its stake in shares of Abbott Laboratories by 0.6% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock worth $2,074,000 after purchasing an additional 130 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 5.2% in the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after buying an additional 2,317 shares during the period. Rockland Trust Co. grew its holdings in shares of Abbott Laboratories by 1.5% in the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after purchasing an additional 1,343 shares during the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Abbott Laboratories by 7.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock valued at $301,000 after acquiring an additional 215 shares during the last quarter. Finally, Boston Partners lifted its stake in Abbott Laboratories by 634.6% in the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock worth $2,882,000 after acquiring an additional 25,707 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABT. Citigroup boosted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada cut their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Finally, Barclays reduced their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have given 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.

Abbott Laboratories Trading Down 0.0 %

ABT stock traded down $0.02 during trading on Friday, reaching $105.90. 3,610,492 shares of the stock were exchanged, compared to its average volume of 5,320,693. The firm has a market capitalization of $183.76 billion, a price-to-earnings ratio of 32.99, a P/E/G ratio of 2.55 and a beta of 0.76. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $112.52 and a 200-day moving average price of $108.51. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

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

Abbott Laboratories Dividend Announcement

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 paid a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. In the last three months, insiders sold 13,935 shares of company stock valued at $1,670,048. Insiders own 1.10% of the company’s stock.

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.