Fishman Jay A Ltd. MI Buys New Stake in Abbott Laboratories (NYSE:ABT)

Fishman Jay A Ltd. MI bought a new stake in Abbott Laboratories (NYSE:ABT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,664 shares of the healthcare product maker’s stock, valued at approximately $613,000.

A number of other institutional investors also recently bought and sold shares of ABT. Orser Capital Management LLC increased its holdings in Abbott Laboratories by 155.3% in the 4th quarter. Orser Capital Management LLC now owns 2,795 shares of the healthcare product maker’s stock valued at $243,000 after purchasing an additional 1,700 shares during the last quarter. Northern Oak Wealth Management Inc. increased its holdings in Abbott Laboratories by 6.4% in the 4th quarter. Northern Oak Wealth Management Inc. now owns 9,169 shares of the healthcare product maker’s stock valued at $796,000 after purchasing an additional 553 shares during the last quarter. Usca Ria LLC increased its holdings in Abbott Laboratories by 0.6% in the 4th quarter. Usca Ria LLC now owns 21,532 shares of the healthcare product maker’s stock valued at $1,870,000 after purchasing an additional 125 shares during the last quarter. Investors Financial Group LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $245,000. Finally, TRUE Private Wealth Advisors raised its stake in shares of Abbott Laboratories by 24.7% in the fourth quarter. TRUE Private Wealth Advisors now owns 6,671 shares of the healthcare product maker’s stock valued at $579,000 after acquiring an additional 1,321 shares in the last quarter. Hedge funds and other institutional investors own 73.44% of the company’s stock.

Several brokerages have weighed in on ABT. Barclays upped their price target on Abbott Laboratories from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Raymond James increased their price target on Abbott Laboratories from $92.00 to $102.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Wells Fargo & Co increased their price target on Abbott Laboratories from $95.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Citigroup increased their price target on Abbott Laboratories from $87.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Stifel Nicolaus increased their price target on Abbott Laboratories from $85.00 to $108.00 in a research report on Friday, April 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $99.47.

In other Abbott Laboratories news, VP Philip P. Boudreau sold 10,600 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $82.00, for a total transaction of $869,200.00. Following the transaction, the vice president now owns 22,463 shares of the company’s stock, valued at $1,841,966. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrew H. Lane sold 80,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total value of $7,360,000.00. Following the transaction, the executive vice president now directly owns 107,090 shares in the company, valued at approximately $9,852,280. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 166,186 shares of company stock worth $15,359,524. 1.70% of the stock is currently owned by corporate insiders.

Shares of NYSE ABT traded up $0.60 during midday trading on Wednesday, hitting $90.09. 3,159,337 shares of the company’s stock were exchanged, compared to its average volume of 6,968,028. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.43 and a quick ratio of 1.01. Abbott Laboratories has a twelve month low of $61.61 and a twelve month high of $100.00. The company has a market cap of $161.80 billion, a PE ratio of 45.02, a P/E/G ratio of 3.79 and a beta of 0.98. The firm’s fifty day simple moving average is $91.03 and its 200-day simple moving average is $85.92.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same quarter last year, the company earned $0.63 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that Abbott Laboratories will post 2.81 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.36%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

Abbott Laboratories 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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

See Also: Preferred Stock

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.