Regentatlantic Capital LLC Acquires 34,071 Shares of Abbott Laboratories (ABT)

Abbott Laboratories logo Regentatlantic Capital LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 84.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,547 shares of the healthcare product maker’s stock after purchasing an additional 34,071 shares during the period. Regentatlantic Capital LLC’s holdings in Abbott Laboratories were worth $5,392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Csenge Advisory Group bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $31,000. Brand Asset Management Group Inc. grew its holdings in shares of Abbott Laboratories by 66.7% in the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of Abbott Laboratories by 33.2% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,199 shares of the healthcare product maker’s stock worth $87,000 after purchasing an additional 299 shares during the last quarter. NuWave Investment Management LLC grew its holdings in shares of Abbott Laboratories by 402.4% in the 4th quarter. NuWave Investment Management LLC now owns 1,281 shares of the healthcare product maker’s stock worth $93,000 after purchasing an additional 1,026 shares during the last quarter. Finally, NewSquare Capital LLC grew its holdings in shares of Abbott Laboratories by 14.2% in the 4th quarter. NewSquare Capital LLC now owns 1,290 shares of the healthcare product maker’s stock worth $93,000 after purchasing an additional 160 shares during the last quarter. 72.57% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on ABT shares. Bank of America reaffirmed a “buy” rating and issued a $81.00 target price (up previously from $73.00) on shares of Abbott Laboratories in a report on Thursday, February 7th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Monday, January 28th. Goldman Sachs Group upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and upped their price target for the stock from $78.00 to $81.00 in a research report on Friday, November 30th. UBS Group assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, November 27th. They set a “buy” rating and a $83.00 price target on the stock. Finally, Gabelli reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $79.48.

Abbott Laboratories stock opened at $74.75 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. Abbott Laboratories has a 1 year low of $56.81 and a 1 year high of $75.57. The stock has a market cap of $132.16 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.82 billion. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.50%. Abbott Laboratories’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. On average, analysts forecast that Abbott Laboratories will post 3.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Tuesday, January 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, January 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

In related news, Chairman Miles D. White sold 142,341 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total value of $10,298,371.35. Following the sale, the chairman now directly owns 3,459,185 shares in the company, valued at approximately $250,272,034.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Also, insider Jaime Contreras sold 177,457 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the completion of the sale, the insider now owns 100,985 shares in the company, valued at $7,068,950. The disclosure for this sale can be found here . Company insiders own 0.74% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company’s Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière’s disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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