Beacon Investment Advisory Services Inc. Has $4.24 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Beacon Investment Advisory Services Inc. increased its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,099 shares of the healthcare product maker’s stock after buying an additional 650 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Abbott Laboratories were worth $4,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. BlackRock Inc. boosted its holdings in shares of Abbott Laboratories by 1.6% in the 3rd quarter. BlackRock Inc. now owns 134,318,636 shares of the healthcare product maker’s stock valued at $15,867,060,000 after buying an additional 2,127,862 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Abbott Laboratories by 4,654.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,621,497 shares of the healthcare product maker’s stock valued at $228,209,000 after acquiring an additional 1,587,394 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at $201,016,000. Morgan Stanley raised its stake in Abbott Laboratories by 4.5% in the 2nd quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock valued at $3,311,209,000 after acquiring an additional 1,233,152 shares during the period. Finally, Nordea Investment Management AB raised its stake in Abbott Laboratories by 98.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,028,736 shares of the healthcare product maker’s stock valued at $244,220,000 after acquiring an additional 1,004,112 shares during the period. 73.01% of the stock is owned by institutional investors.

In other news, SVP Michael D. Dale sold 4,000 shares of Abbott Laboratories stock in a transaction dated Tuesday, March 8th. The stock was sold at an average price of $117.00, for a total transaction of $468,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 456 shares of Abbott Laboratories stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $118.13, for a total value of $53,867.28. The disclosure for this sale can be found here. Insiders have sold 7,896 shares of company stock worth $926,454 over the last three months. Insiders own 0.52% of the company’s stock.

NYSE:ABT traded up $3.43 during trading hours on Tuesday, hitting $119.72. The company’s stock had a trading volume of 163,286 shares, compared to its average volume of 6,045,538. The stock has a fifty day simple moving average of $119.96 and a 200-day simple moving average of $125.53. The company has a market capitalization of $211.12 billion, a P/E ratio of 30.41, a PEG ratio of 3.17 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.46. Abbott Laboratories has a twelve month low of $105.36 and a twelve month high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last released its quarterly earnings data on Wednesday, January 26th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.14. The business had revenue of $11.47 billion for the quarter, compared to analyst estimates of $10.71 billion. Abbott Laboratories had a return on equity of 27.06% and a net margin of 16.42%. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. On average, equities analysts predict that Abbott Laboratories will post 4.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 15th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, April 13th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 47.72%.

A number of research firms recently weighed in on ABT. Credit Suisse Group increased their price target on Abbott Laboratories from $138.00 to $139.00 and gave the company an “outperform” rating in a research note on Thursday, January 27th. Morgan Stanley lowered their price objective on Abbott Laboratories from $157.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, January 27th. UBS Group increased their price objective on Abbott Laboratories from $138.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, January 27th. Bank of America assumed coverage on Abbott Laboratories in a research report on Tuesday, March 1st. They set a “buy” rating and a $140.00 price objective on the stock. Finally, StockNews.com assumed coverage on Abbott Laboratories in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $139.52.

About Abbott Laboratories (Get Rating)

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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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