Summit Financial LLC Has $6.67 Million Holdings in Abbott Laboratories (NYSE:ABT)

Summit Financial LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,939 shares of the healthcare product maker’s stock after acquiring an additional 8,986 shares during the period. Summit Financial LLC’s holdings in Abbott Laboratories were worth $6,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Groupama Asset Managment raised its holdings in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the period. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $26,000. NewSquare Capital LLC lifted its position in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories in the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories during the 4th quarter worth about $29,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the sale, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now directly owns 71,928 shares in the company, valued at $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,449 shares of company stock valued at $15,463,316. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

ABT opened at $130.81 on Monday. 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 stock’s fifty day simple moving average is $130.05 and its 200 day simple moving average is $120.39. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The stock has a market cap of $226.87 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the company posted $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America boosted their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. UBS Group raised their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays reaffirmed an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

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.