CWA Asset Management Group LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

CWA Asset Management Group LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 17.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,176 shares of the healthcare product maker’s stock after purchasing an additional 768 shares during the quarter. CWA Asset Management Group LLC’s holdings in Abbott Laboratories were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Align Wealth Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $87,000. Parkside Advisors LLC lifted its holdings in shares of Abbott Laboratories by 12.2% during the fourth quarter. Parkside Advisors LLC now owns 3,250 shares of the healthcare product maker’s stock worth $357,000 after purchasing an additional 354 shares during the period. Brookstone Capital Management lifted its holdings in shares of Abbott Laboratories by 15.2% during the fourth quarter. Brookstone Capital Management now owns 36,766 shares of the healthcare product maker’s stock worth $4,130,000 after purchasing an additional 4,863 shares during the period. Nexus Investment Management ULC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $361,000. Finally, Core Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $478,000. 72.93% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 2.0 %

Shares of ABT stock opened at $97.01 on Friday. The stock has a market cap of $168.60 billion, a P/E ratio of 24.81, a P/E/G ratio of 4.38 and a beta of 0.68. The business has a fifty day simple moving average of $106.80 and a 200-day simple moving average of $104.88. Abbott Laboratories has a fifty-two week low of $93.25 and a fifty-two week high of $124.36. The company has a quick ratio of 1.23, a current ratio of 1.63 and a debt-to-equity ratio of 0.39.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its quarterly earnings data on Wednesday, January 25th. The healthcare product maker reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $9.69 billion. Abbott Laboratories had a return on equity of 26.09% and a net margin of 15.88%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. On average, analysts forecast that Abbott Laboratories will post 4.38 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, April 13th. Abbott Laboratories’s dividend payout ratio is presently 52.17%.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Abbott Laboratories from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 26th. Morgan Stanley increased their price target on Abbott Laboratories from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Mizuho raised their target price on Abbott Laboratories from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, January 24th. Raymond James raised their target price on Abbott Laboratories from $109.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. Finally, StockNews.com began coverage on Abbott Laboratories in a report on Thursday. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.67.

Insider Buying and Selling

In related news, SVP Randel William Woodgrift sold 1,032 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $100.70, for a total transaction of $103,922.40. Following the completion of the sale, the senior vice president now owns 52,203 shares in the company, valued at approximately $5,256,842.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Abbott Laboratories news, SVP Randel William Woodgrift sold 1,032 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $100.70, for a total value of $103,922.40. Following the completion of the sale, the senior vice president now owns 52,203 shares in the company, valued at approximately $5,256,842.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Julie L. Tyler sold 260 shares of Abbott Laboratories stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $103.24, for a total value of $26,842.40. Following the completion of the sale, the senior vice president now owns 40,896 shares of the company’s stock, valued at approximately $4,222,103.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,971 shares of company stock worth $199,140. 0.52% of the stock is owned by corporate insiders.

About Abbott Laboratories

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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