Mcdonald Partners LLC Purchases 328 Shares of Abbott Laboratories (NYSE:ABT)

Mcdonald Partners LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,153 shares of the healthcare product maker’s stock after acquiring an additional 328 shares during the period. Mcdonald Partners LLC’s holdings in Abbott Laboratories were worth $1,827,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Abbott Laboratories by 6.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 54,755 shares of the healthcare product maker’s stock valued at $6,193,000 after purchasing an additional 3,241 shares during the period. Proactive Wealth Strategies LLC grew its stake in Abbott Laboratories by 1.7% in the 4th quarter. Proactive Wealth Strategies LLC now owns 19,409 shares of the healthcare product maker’s stock valued at $2,195,000 after buying an additional 324 shares in the last quarter. Ramsay Stattman Vela & Price Inc. lifted its position in shares of Abbott Laboratories by 6.1% during the fourth quarter. Ramsay Stattman Vela & Price Inc. now owns 111,095 shares of the healthcare product maker’s stock worth $12,566,000 after acquiring an additional 6,346 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $133,000. Finally, Atria Wealth Solutions Inc. grew its position in shares of Abbott Laboratories by 3.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 77,402 shares of the healthcare product maker’s stock valued at $8,755,000 after purchasing an additional 2,259 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Down 0.9 %

Shares of ABT opened at $130.63 on Tuesday. The firm has a market cap of $226.56 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.39 and a beta of 0.75. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.65. The stock has a 50 day simple moving average of $119.28 and a two-hundred day simple moving average of $116.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th were issued a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 1.81%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent research reports. Barclays reissued an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Evercore ISI raised their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, UBS Group upped their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.