Parcion Private Wealth LLC Buys 2,161 Shares of Abbott Laboratories (NYSE:ABT)

Parcion Private Wealth LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,187 shares of the healthcare product maker’s stock after acquiring an additional 2,161 shares during the period. Parcion Private Wealth LLC’s holdings in Abbott Laboratories were worth $7,713,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Abbott Laboratories by 17.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 268,538 shares of the healthcare product maker’s stock worth $30,616,000 after acquiring an additional 40,783 shares during the last quarter. Trilogy Capital Inc. increased its position in Abbott Laboratories by 5.6% during the third quarter. Trilogy Capital Inc. now owns 2,503 shares of the healthcare product maker’s stock valued at $285,000 after acquiring an additional 132 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $142,000. My Legacy Advisors LLC boosted its stake in shares of Abbott Laboratories by 2.3% during the 3rd quarter. My Legacy Advisors LLC now owns 4,180 shares of the healthcare product maker’s stock worth $477,000 after purchasing an additional 92 shares during the period. Finally, Symphony Financial Ltd. Co. grew its holdings in Abbott Laboratories by 11.2% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 8,571 shares of the healthcare product maker’s stock valued at $964,000 after purchasing an additional 863 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.5 %

NYSE ABT opened at $132.18 on Thursday. The firm has a market cap of $229.26 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.44 and a beta of 0.75. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $132.65. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $119.93 and a 200 day moving average price of $116.53.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Wednesday, January 15th were paid a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABT shares. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Evercore ISI raised their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Stifel Nicolaus lifted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, UBS Group upped their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.