Catalyst Financial Partners LLC Has $690,000 Holdings in Abbott Laboratories (NYSE:ABT)

Catalyst Financial Partners LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,267 shares of the healthcare product maker’s stock after purchasing an additional 394 shares during the period. Catalyst Financial Partners LLC’s holdings in Abbott Laboratories were worth $690,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Wellington Management Group LLP boosted its holdings in Abbott Laboratories by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock worth $3,022,564,000 after acquiring an additional 1,298,219 shares during the last quarter. Northern Trust Corp grew its position in Abbott Laboratories by 1.5% in the 3rd quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after purchasing an additional 343,559 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Abbott Laboratories by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,360,908 shares of the healthcare product maker’s stock valued at $1,346,959,000 after buying an additional 207,031 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Abbott Laboratories by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,930,872 shares of the healthcare product maker’s stock worth $1,093,091,000 after buying an additional 236,741 shares during the last quarter. Finally, Flossbach Von Storch AG grew its holdings in shares of Abbott Laboratories by 1.5% in the fourth quarter. Flossbach Von Storch AG now owns 9,149,611 shares of the healthcare product maker’s stock valued at $1,007,098,000 after acquiring an additional 135,821 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The disclosure for this sale can be found here. Insiders sold a total of 36,787 shares of company stock worth $4,098,073 over the last three months. 0.47% of the stock is owned by insiders.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded down $0.27 on Thursday, reaching $104.67. The stock had a trading volume of 5,807,391 shares, compared to its average volume of 5,564,612. The business’s 50 day moving average is $111.69 and its two-hundred day moving average is $108.82. The company has a market cap of $182.09 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.55 and a beta of 0.76. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABT. Citigroup upped their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Royal Bank of Canada reduced their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Evercore ISI lifted their price target 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, Barclays reduced their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

About Abbott Laboratories

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.