Regent Peak Wealth Advisors LLC Purchases 12,526 Shares of Abbott Laboratories (NYSE:ABT)


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Regent Peak Wealth Advisors LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 284.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,933 shares of the healthcare product maker’s stock after purchasing an additional 12,526 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,029,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Morgan Stanley increased its stake in Abbott Laboratories by 5.2% in the 4th quarter. Morgan Stanley now owns 26,687,412 shares of the healthcare product maker’s stock worth $2,922,006,000 after buying an additional 1,316,343 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Abbott Laboratories by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 21,322,955 shares of the healthcare product maker’s stock valued at $2,334,649,000 after purchasing an additional 572,841 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Abbott Laboratories by 1.2% during the 4th quarter. Wells Fargo & Company MN now owns 20,057,853 shares of the healthcare product maker’s stock valued at $2,196,135,000 after purchasing an additional 229,413 shares during the last quarter. FMR LLC boosted its holdings in shares of Abbott Laboratories by 20.3% during the 4th quarter. FMR LLC now owns 18,139,806 shares of the healthcare product maker’s stock valued at $1,986,127,000 after purchasing an additional 3,058,593 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $1,881,512,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

ABT has been the subject of a number of analyst reports. Morgan Stanley increased their price target on shares of Abbott Laboratories from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, April 27th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Tuesday, February 2nd. BTIG Research raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Thursday, January 28th. Credit Suisse Group raised 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. Finally, Atlantic Securities started coverage on shares of Abbott Laboratories in a research note on Wednesday, April 21st. They issued a “neutral” rating and a $122.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $126.06.

In other news, EVP Andrea F. Wainer sold 6,200 shares of Abbott Laboratories stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $121.79, for a total transaction of $755,098.00. Following the completion of the sale, the executive vice president now directly owns 51,550 shares in the company, valued at $6,278,274.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mary K. Moreland sold 505 shares of Abbott Laboratories stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $128.49, for a total transaction of $64,887.45. Following the sale, the executive vice president now owns 63,878 shares of the company’s stock, valued at $8,207,684.22. The disclosure for this sale can be found here. Insiders have sold 8,726 shares of company stock valued at $1,064,230 over the last quarter. Insiders own 1.70% of the company’s stock.

NYSE ABT traded down $2.02 on Tuesday, hitting $117.51. The stock had a trading volume of 121,756 shares, compared to its average volume of 5,216,047. The business’s fifty day moving average price is $120.90 and its 200 day moving average price is $115.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. Abbott Laboratories has a 52-week low of $86.16 and a 52-week high of $128.54. The stock has a market cap of $208.17 billion, a price-to-earnings ratio of 63.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.05. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The business had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.72 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Abbott Laboratories will post 3.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. Abbott Laboratories’s payout ratio is currently 55.56%.

Abbott Laboratories Profile

Abbott Laboratories 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.

Read More: Debt-To-Equity Ratio

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

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