Triad Wealth Partners LLC Makes New Investment in Abbott Laboratories (NYSE:ABT)

Triad Wealth Partners LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,773 shares of the healthcare product maker’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Groupama Asset Managment lifted its position in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $32,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ABT shares. UBS Group boosted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Barclays reiterated an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $137.19.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,282 shares of company stock worth $3,263,348. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Performance

NYSE ABT opened at $137.68 on Thursday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market cap of $238.79 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.52 and a beta of 0.75. The company has a fifty day moving average price of $124.51 and a 200-day moving average price of $118.42.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.71%. Abbott Laboratories’s payout ratio is currently 30.85%.

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.