Concord Wealth Partners Purchases 9,391 Shares of Abbott Laboratories (NYSE:ABT)

Concord Wealth Partners increased its position in Abbott Laboratories (NYSE:ABT) by 337.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,171 shares of the healthcare product maker’s stock after purchasing an additional 9,391 shares during the quarter. Concord Wealth Partners’ holdings in Abbott Laboratories were worth $1,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Accurate Wealth Management LLC raised its holdings in shares of Abbott Laboratories by 17.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 4,894 shares of the healthcare product maker’s stock valued at $451,000 after purchasing an additional 711 shares during the period. Vicus Capital raised its holdings in Abbott Laboratories by 18.3% in the 3rd quarter. Vicus Capital now owns 5,067 shares of the healthcare product maker’s stock valued at $491,000 after acquiring an additional 783 shares during the period. Hexagon Capital Partners LLC raised its holdings in Abbott Laboratories by 7.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,107 shares of the healthcare product maker’s stock valued at $204,000 after acquiring an additional 146 shares during the period. Clear Creek Financial Management LLC raised its holdings in Abbott Laboratories by 13.6% in the 3rd quarter. Clear Creek Financial Management LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $294,000 after acquiring an additional 363 shares during the period. Finally, Raymond James & Associates raised its holdings in Abbott Laboratories by 2.3% in the 3rd quarter. Raymond James & Associates now owns 3,072,634 shares of the healthcare product maker’s stock valued at $297,584,000 after acquiring an additional 70,355 shares during the period. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 0.9 %

Shares of Abbott Laboratories stock traded up $0.95 during trading on Wednesday, hitting $106.92. The company’s stock had a trading volume of 2,536,678 shares, compared to its average volume of 5,586,764. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The stock has a market cap of $185.53 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. The stock has a 50-day moving average price of $113.29 and a two-hundred day moving average price of $108.44.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.06%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders have sold a total of 13,935 shares of company stock worth $1,670,048 over the last quarter. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ABT shares. Royal Bank of Canada lowered their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Barclays lowered their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Evercore ISI raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Citigroup raised their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

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.