Concord Wealth Partners Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Concord Wealth Partners increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 337.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,171 shares of the healthcare product maker’s stock after purchasing an additional 9,391 shares during the period. Concord Wealth Partners’ holdings in Abbott Laboratories were worth $1,340,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Abbott Laboratories during the fourth quarter valued at approximately $37,000. 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. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Abbott Laboratories during the third quarter valued at approximately $40,000. Cornerstone Planning Group LLC grew its position in Abbott Laboratories by 79.4% during the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after buying an additional 201 shares during the period. Finally, Legacy Financial Group LLC bought a new stake in Abbott Laboratories during the third quarter valued at approximately $46,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $0.95 during mid-day trading on Wednesday, hitting $106.92. The company had a trading volume of 2,536,678 shares, compared to its average volume of 5,586,764. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock’s 50 day moving average price is $113.29 and its 200-day moving average price is $108.44. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The company has a market capitalization of $185.53 billion, a P/E ratio of 33.23, a P/E/G ratio of 2.58 and a beta of 0.74.

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 for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 yield of 2.06%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. Citigroup boosted their target price 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. Barclays dropped their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research 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 stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada dropped 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, April 18th. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Activity at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. Insiders have sold a total of 13,935 shares of company stock valued at $1,670,048 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

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.