Abbott Laboratories (NYSE:ABT) Shares Purchased by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 6.6% in the fourth quarter, Holdings Channel reports. The firm owned 3,053 shares of the healthcare product maker’s stock after buying an additional 189 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories during the 4th quarter worth $26,000. NewSquare Capital LLC boosted its stake in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares during the period. Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth $29,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the 3rd quarter worth $32,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Abbott Laboratories during the 4th quarter worth $34,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $127.02 on Monday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The stock has a market capitalization of $220.29 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.52 and a beta of 0.70. The firm’s 50-day moving average is $127.16 and its two-hundred day moving average is $119.47. 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 results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.86%. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Insiders Place Their Bets

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s 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 sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the sale, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock valued at $15,463,316 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ABT shares. Barclays restated an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Bank of America upped their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

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.