Trek Financial LLC Has $1.10 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Trek Financial LLC increased its position in Abbott Laboratories (NYSE:ABT) by 35.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,761 shares of the healthcare product maker’s stock after acquiring an additional 2,531 shares during the quarter. Trek Financial LLC’s holdings in Abbott Laboratories were worth $1,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. United Bank boosted its position in shares of Abbott Laboratories by 1.8% in the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock valued at $3,111,000 after acquiring an additional 488 shares during the period. Morse Asset Management Inc bought a new stake in Abbott Laboratories in the 3rd quarter valued at $380,000. EP Wealth Advisors LLC grew its position in Abbott Laboratories by 5.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 56,097 shares of the healthcare product maker’s stock worth $6,396,000 after purchasing an additional 2,809 shares during the last quarter. Dunhill Financial LLC increased its holdings in shares of Abbott Laboratories by 45.7% during the 3rd quarter. Dunhill Financial LLC now owns 571 shares of the healthcare product maker’s stock worth $65,000 after purchasing an additional 179 shares during the period. Finally, First National Bank of Omaha raised its position in shares of Abbott Laboratories by 3.0% during the third quarter. First National Bank of Omaha now owns 193,931 shares of the healthcare product maker’s stock valued at $22,110,000 after buying an additional 5,683 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Evercore ISI raised their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a 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 company a “buy” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, UBS Group increased their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Abbott Laboratories Stock Down 5.4 %

NYSE:ABT opened at $124.46 on Monday. The company has a market cap of $215.85 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock’s fifty day moving average price is $131.18 and its two-hundred day moving average price is $120.88. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 over the last three months. 0.46% of the stock is currently owned by corporate insiders.

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.