1,793 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Hibernia Wealth Partners LLC

Hibernia Wealth Partners LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, Holdings Channel reports. The fund bought 1,793 shares of the healthcare product maker’s stock, valued at approximately $204,000.

Other large investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC bought a new position in shares of Abbott Laboratories in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. UBS Group raised their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley raised their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Oppenheimer initiated coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Price Performance

NYSE:ABT opened at $114.22 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock has a fifty day moving average of $114.63 and a 200 day moving average of $108.66. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64. The firm has a market capitalization of $198.70 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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 return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the company posted $1.14 EPS. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.