SeaCrest Wealth Management LLC Acquires 1,179 Shares of Abbott Laboratories (NYSE:ABT)


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SeaCrest Wealth Management LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,193 shares of the healthcare product maker’s stock after buying an additional 1,179 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,320,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bangor Savings Bank lifted its position in Abbott Laboratories by 2.3% during the 4th quarter. Bangor Savings Bank now owns 5,159 shares of the healthcare product maker’s stock worth $448,000 after buying an additional 115 shares in the last quarter. Plimoth Trust Co. LLC increased its stake in shares of Abbott Laboratories by 49.4% during the 4th quarter. Plimoth Trust Co. LLC now owns 18,775 shares of the healthcare product maker’s stock worth $2,055,000 after purchasing an additional 6,207 shares during the last quarter. Norris Perne & French LLP MI increased its stake in shares of Abbott Laboratories by 2.3% during the 4th quarter. Norris Perne & French LLP MI now owns 108,700 shares of the healthcare product maker’s stock worth $11,902,000 after purchasing an additional 2,427 shares during the last quarter. Demars Financial Group LLC increased its stake in shares of Abbott Laboratories by 21.5% during the 4th quarter. Demars Financial Group LLC now owns 30,580 shares of the healthcare product maker’s stock worth $3,348,000 after purchasing an additional 5,410 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its stake in shares of Abbott Laboratories by 1.8% during the 4th quarter. Congress Asset Management Co. MA now owns 811,289 shares of the healthcare product maker’s stock worth $88,828,000 after purchasing an additional 14,031 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on ABT shares. Credit Suisse Group boosted their price objective on shares of Abbott Laboratories from $118.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. SVB Leerink boosted their price objective on shares of Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a research note on Thursday, January 28th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Tuesday, February 2nd. Wells Fargo & Company upped their price target on shares of Abbott Laboratories from $128.00 to $137.00 in a research note on Thursday, January 28th. Finally, Cowen upped their price target on shares of Abbott Laboratories from $113.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $122.26.

NYSE ABT traded down $1.72 during trading on Tuesday, reaching $120.83. The company’s stock had a trading volume of 102,816 shares, compared to its average volume of 5,381,432. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $214.15 billion, a price-to-earnings ratio of 64.84, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. Abbott Laboratories has a 12 month low of $61.61 and a 12 month high of $128.54. The firm has a 50 day moving average price of $118.10 and a 200 day moving average price of $109.83.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Tuesday, January 26th. The healthcare product maker reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.10. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $9.94 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. On average, equities analysts forecast that Abbott Laboratories will post 3.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 55.56%.

In other news, Director Phebe N. Novakovic sold 4,790 shares of the company’s stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $107.28, for a total transaction of $513,871.20. Following the completion of the sale, the director now owns 34,446 shares of the company’s stock, valued at approximately $3,695,366.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Joseph J. Manning sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, February 1st. The stock was sold at an average price of $122.79, for a total transaction of $2,302,312.50. Following the sale, the senior vice president now directly owns 81,561 shares of the company’s stock, valued at approximately $10,014,875.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,045 shares of company stock valued at $2,881,071. 1.70% of the stock is currently owned by insiders.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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