Onyx Bridge Wealth Group LLC Raises Holdings in Abbott Laboratories (NYSE:ABT)

Onyx Bridge Wealth Group LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 36.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,300 shares of the healthcare product maker’s stock after purchasing an additional 882 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Abbott Laboratories were worth $363,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Altshuler Shaham Ltd purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $28,000. Cornerstone Planning Group LLC purchased a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $28,000. FWL Investment Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at approximately $33,000. True Wealth Design LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at approximately $33,000. Finally, Quarry LP boosted its holdings in Abbott Laboratories by 132.9% in the 2nd quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock valued at $36,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.9 %

ABT stock traded up $2.01 during midday trading on Friday, hitting $107.28. The stock had a trading volume of 10,533,616 shares, compared to its average volume of 5,474,096. The firm has a market cap of $186.15 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 2.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company’s 50-day moving average price is $114.19 and its 200 day moving average price is $107.65.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. On average, equities research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Activity

In other news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ABT shares. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Raymond James lifted their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada reduced their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday. Barclays lifted their price target on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Citigroup lifted their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.31.

About Abbott Laboratories

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.