Abbott Laboratories (NYSE:ABT) Shares Purchased by Bar Harbor Wealth Management

Bar Harbor Wealth Management boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,792 shares of the healthcare product maker’s stock after purchasing an additional 1,570 shares during the quarter. Abbott Laboratories makes up 1.0% of Bar Harbor Wealth Management’s holdings, making the stock its 27th largest position. Bar Harbor Wealth Management’s holdings in Abbott Laboratories were worth $15,925,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Thoroughbred Financial Services LLC increased its stake in Abbott Laboratories by 10.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 19,922 shares of the healthcare product maker’s stock worth $2,070,000 after buying an additional 1,882 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Abbott Laboratories by 3.6% during the second quarter. William Blair Investment Management LLC now owns 118,828 shares of the healthcare product maker’s stock worth $12,347,000 after purchasing an additional 4,166 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Abbott Laboratories by 14.5% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 23,702 shares of the healthcare product maker’s stock valued at $2,463,000 after purchasing an additional 3,010 shares in the last quarter. Williams Financial LLC acquired a new stake in Abbott Laboratories during the 2nd quarter worth $442,000. Finally, Diversify Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth $1,961,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.7 %

ABT traded up $0.81 during mid-day trading on Monday, hitting $113.12. 2,824,986 shares of the stock were exchanged, compared to its average volume of 4,461,882. The company has a market cap of $196.20 billion, a PE ratio of 34.38, a PEG ratio of 2.69 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $115.33 and its two-hundred day moving average is $112.54. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.09%. Abbott Laboratories’s dividend payout ratio is 71.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ABT shares. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Royal Bank of Canada upped their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Barclays raised their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.57.

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.