Glenview Trust co Increases Holdings in Abbott Laboratories (NYSE:ABT)

Glenview Trust co increased its stake in Abbott Laboratories (NYSE:ABT) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,316 shares of the healthcare product maker’s stock after acquiring an additional 3,821 shares during the period. Glenview Trust co’s holdings in Abbott Laboratories were worth $10,555,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Groupama Asset Managment increased its position in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the last quarter. Noble Wealth Management PBC purchased a new position in Abbott Laboratories during the fourth quarter worth $26,000. NewSquare Capital LLC increased its position in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at $29,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories during the 3rd quarter worth about $32,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

ABT stock opened at $127.02 on Friday. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The firm has a 50-day simple moving average of $127.16 and a two-hundred day simple moving average of $119.43. 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 firm has a market cap of $220.29 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $11.03 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,449 shares of company stock valued at $15,463,316. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABT. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Evercore ISI increased their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. The Goldman Sachs Group boosted 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. Bank of America increased their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Citigroup boosted their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

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.