Opal Wealth Advisors LLC Has $333,000 Position in Abbott Laboratories (NYSE:ABT)

Opal Wealth Advisors LLC lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,941 shares of the healthcare product maker’s stock after selling 248 shares during the period. Opal Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $333,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories during the fourth quarter worth $34,000. Liberty Capital Management Inc. grew its holdings in shares of Abbott Laboratories by 0.6% in the 4th quarter. Liberty Capital Management Inc. now owns 43,939 shares of the healthcare product maker’s stock worth $4,970,000 after purchasing an additional 276 shares during the last quarter. Stiles Financial Services Inc lifted its holdings in Abbott Laboratories by 2.5% during the 4th quarter. Stiles Financial Services Inc now owns 25,863 shares of the healthcare product maker’s stock valued at $2,925,000 after purchasing an additional 623 shares during the last quarter. Legacy Financial Strategies LLC boosted its position in Abbott Laboratories by 0.7% in the fourth quarter. Legacy Financial Strategies LLC now owns 25,400 shares of the healthcare product maker’s stock valued at $2,881,000 after buying an additional 180 shares in the last quarter. Finally, Washburn Capital Management Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $279,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 0.7 %

Abbott Laboratories stock opened at $129.11 on Monday. The firm has a market capitalization of $223.93 billion, a PE ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.75. The company’s 50-day moving average is $117.46 and its 200-day moving average is $115.18. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $132.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 30.85%.

Analyst Ratings Changes

ABT has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Mizuho raised their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.