Abbott Laboratories (NYSE:ABT) Stock Position Raised by Castleview Partners LLC

by · The Cerbat Gem

Castleview Partners LLC lifted its position in Abbott Laboratories (NYSE:ABT – Free Report) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,990 shares of the healthcare product maker’s stock after acquiring an additional 158 shares during the quarter. Castleview Partners LLC’s holdings in Abbott Laboratories were worth $386,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ABT. Fairfield Bush & CO. purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $131,000. United Bank lifted its position in Abbott Laboratories by 7.2% in the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock worth $3,229,000 after buying an additional 1,826 shares in the last quarter. Mackenzie Financial Corp lifted its position in Abbott Laboratories by 1.9% in the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after buying an additional 15,521 shares in the last quarter. Kinneret Advisory LLC lifted its position in Abbott Laboratories by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock worth $2,304,000 after buying an additional 436 shares in the last quarter. Finally, Lumature Wealth Partners LLC lifted its position in Abbott Laboratories by 636.2% in the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock worth $262,000 after buying an additional 1,915 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $108.00, for a total transaction of $1,620,000.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,022,916. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $94.05, for a total transaction of $4,702,500.00. Following the completion of the transaction, the director now directly owns 6,725,316 shares of the company’s stock, valued at approximately $632,515,969.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 15,000 shares of Abbott Laboratories stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $108.00, for a total transaction of $1,620,000.00. Following the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,022,916. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. UBS Group dropped their price target on shares of Abbott Laboratories from $130.00 to $118.00 in a research note on Thursday, October 19th. Raymond James increased their price target on shares of Abbott Laboratories from $110.00 to $124.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com assumed coverage on shares of Abbott Laboratories in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Jefferies Financial Group dropped their price target on shares of Abbott Laboratories from $120.00 to $112.00 in a research note on Monday, October 2nd. Finally, Citigroup dropped their price target on shares of Abbott Laboratories from $130.00 to $122.00 in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $118.73.

Read Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $110.80 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 1.23. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $115.83. The firm has a fifty day moving average price of $103.33 and a two-hundred day moving average price of $103.13. The company has a market cap of $192.36 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 2.67 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 12.92% and a return on equity of 20.15%. The firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the firm earned $1.15 EPS. The business’s revenue was down 2.6% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 4.44 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 1.99%. Abbott Laboratories’s dividend payout ratio is 69.39%.

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 Established Pharmaceutical Products segment 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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