Pallas Capital Advisors LLC Acquires 2,682 Shares of Abbott Laboratories (NYSE:ABT)

Pallas Capital Advisors LLC boosted its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,617 shares of the healthcare product maker’s stock after purchasing an additional 2,682 shares during the period. Pallas Capital Advisors LLC’s holdings in Abbott Laboratories were worth $9,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABT. Patriot Investment Management Group Inc. boosted its stake in shares of Abbott Laboratories by 3.1% during the 4th quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock worth $356,000 after purchasing an additional 96 shares during the period. Shepherd Financial Partners LLC boosted its position in Abbott Laboratories by 4.5% in the 4th quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock valued at $250,000 after buying an additional 99 shares during the period. Stonebridge Capital Advisors LLC boosted its position in Abbott Laboratories by 0.5% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 20,029 shares of the healthcare product maker’s stock valued at $2,371,000 after buying an additional 100 shares during the period. Landaas & Co. WI ADV boosted its position in Abbott Laboratories by 1.8% in the 4th quarter. Landaas & Co. WI ADV now owns 5,534 shares of the healthcare product maker’s stock valued at $608,000 after buying an additional 100 shares during the period. Finally, Renaissance Investment Group LLC boosted its position in Abbott Laboratories by 0.7% in the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock valued at $1,563,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of several research reports. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Citigroup boosted their price objective on shares of Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays boosted their price objective on shares of 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 restated an “outperform” rating and issued a $128.00 price target on shares of Abbott Laboratories in a report on Wednesday, February 14th. Finally, Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $121.77.

Get Our Latest Analysis on ABT

Abbott Laboratories Trading Down 1.4 %

NYSE ABT opened at $112.09 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The firm has a market cap of $194.50 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.74 and a beta of 0.74. The company has a 50 day moving average price of $115.06 and a 200 day moving average price of $106.67. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. Abbott Laboratories’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. Abbott Laboratories’s payout ratio is 67.48%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,435 shares of company stock worth $6,451,298. 0.47% of the stock is owned by corporate insiders.

About Abbott Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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