Signature Resources Capital Management LLC Invests $29,000 in Abbott Laboratories (NYSE:ABT)

Signature Resources Capital Management LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 259 shares of the healthcare product maker’s stock, valued at approximately $29,000.

Several other hedge funds have also recently made changes to their positions in ABT. Stuart Chaussee & Associates Inc. grew its position in Abbott Laboratories by 236.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after buying an additional 236 shares during the period. Rise Advisors LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth $37,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Abbott Laboratories in the third quarter worth approximately $40,000. Cornerstone Planning Group LLC increased its holdings in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after buying an additional 201 shares during the last quarter. Finally, Bfsg LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $51,000. 75.18% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,935 shares of company stock worth $1,670,048. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of research reports. Citigroup raised their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Barclays reduced their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada decreased their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Finally, Raymond James restated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Stock Down 0.0 %

Shares of ABT stock traded down $0.02 during midday trading on Friday, reaching $105.90. 3,610,492 shares of the stock were exchanged, compared to its average volume of 5,320,693. The firm has a market cap of $183.76 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 2.55 and a beta of 0.76. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $112.52 and its two-hundred day moving average is $108.51. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Abbott Laboratories Company 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.