Onyx Bridge Wealth Group LLC Has $377,000 Position in Abbott Laboratories (NYSE:ABT)

Onyx Bridge Wealth Group LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,305 shares of the healthcare product maker’s stock after purchasing an additional 166 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Abbott Laboratories were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the second quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $32,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several recent research reports. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday. UBS Group increased their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $129.67.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $119.39 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $207.69 billion, a PE ratio of 37.19, a P/E/G ratio of 2.74 and a beta of 0.72. The firm has a fifty day simple moving average of $113.97 and a 200 day simple moving average of $108.52. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.84%. Abbott Laboratories’s payout ratio is currently 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.