Parkside Financial Bank & Trust Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Parkside Financial Bank & Trust lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 27.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,364 shares of the healthcare product maker’s stock after acquiring an additional 3,497 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Abbott Laboratories were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Abbott Laboratories by 24.4% during the third quarter. International Assets Investment Management LLC now owns 9,543 shares of the healthcare product maker’s stock worth $912,000 after purchasing an additional 1,874 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Abbott Laboratories by 9.5% during the third quarter. Wedge Capital Management L L P NC now owns 3,413 shares of the healthcare product maker’s stock worth $331,000 after purchasing an additional 296 shares in the last quarter. RFG Advisory LLC boosted its stake in Abbott Laboratories by 3.4% in the third quarter. RFG Advisory LLC now owns 13,316 shares of the healthcare product maker’s stock valued at $1,290,000 after acquiring an additional 436 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Abbott Laboratories by 4.5% in the third quarter. Douglas Lane & Associates LLC now owns 16,809 shares of the healthcare product maker’s stock valued at $1,628,000 after buying an additional 725 shares during the last quarter. Finally, Columbia Trust Co 01012016 raised its holdings in Abbott Laboratories by 6.8% during the third quarter. Columbia Trust Co 01012016 now owns 5,398 shares of the healthcare product maker’s stock worth $523,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction on 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 completion of the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 56,435 shares of company stock worth $6,451,298 in the last quarter. 0.47% of the stock is owned by company insiders.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded down $1.82 during mid-day trading on Wednesday, reaching $105.77. 1,065,108 shares of the stock were exchanged, compared to its average volume of 5,666,196. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The company has a market cap of $183.53 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a 50-day simple moving average of $114.00 and a 200 day simple moving average of $107.97.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion during 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%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is presently 68.54%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays dropped their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday. Citigroup increased their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada cut their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Company 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.