Creekmur Asset Management LLC Makes New $128,000 Investment in Abbott Laboratories (NYSE:ABT)

Creekmur Asset Management LLC bought a new stake in Abbott Laboratories (NYSE:ABT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,162 shares of the healthcare product maker’s stock, valued at approximately $128,000.

Several other hedge funds have also modified their holdings of ABT. Perigon Wealth Management LLC boosted its holdings in 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 valued at $5,182,000 after purchasing an additional 2,317 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $16,764,000. VisionPoint Advisory Group LLC increased its stake in shares of Abbott Laboratories by 7.4% in the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after buying an additional 215 shares during the last quarter. Gradient Investments LLC raised its holdings in Abbott Laboratories by 4.7% in the fourth quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock valued at $28,344,000 after acquiring an additional 11,508 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $2,111,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.2 %

ABT traded up $0.23 during trading on Friday, reaching $103.68. The company had a trading volume of 3,683,145 shares, compared to its average volume of 5,678,494. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a market cap of $180.36 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.49 and a beta of 0.74. The firm’s 50-day simple moving average is $105.66 and its 200 day simple moving average is $110.10.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Equities research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.12%. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Ratings Changes

A number of research analysts have commented on ABT shares. Barclays reduced their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Citigroup reduced their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Finally, Raymond James reaffirmed a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

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.