Moment Partners LLC Takes Position in Abbott Laboratories (NYSE:ABT)

Moment Partners LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, HoldingsChannel reports. The firm purchased 4,978 shares of the healthcare product maker’s stock, valued at approximately $563,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cape Investment Advisory Inc. increased its stake in shares of Abbott Laboratories by 6.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 76 shares during the period. Cyrus J. Lawrence LLC increased its position in shares of Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock valued at $107,000 after acquiring an additional 79 shares during the period. LMG Wealth Partners LLC boosted its holdings in shares of Abbott Laboratories by 3.8% during the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after purchasing an additional 80 shares during the period. Jacobson & Schmitt Advisors LLC grew its stake in shares of Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares during the last quarter. Finally, Glass Wealth Management Co LLC raised its position in Abbott Laboratories by 3.2% during the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock valued at $299,000 after purchasing an additional 81 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,449 shares of company stock worth $15,463,316. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $126.46 on Thursday. The firm has a market cap of $219.31 billion, a PE ratio of 16.53, a P/E/G ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $129.35 and a two-hundred day simple moving average of $120.16.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is 30.85%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABT. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 21st. StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Argus raised Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price target on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

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.