Spearhead Capital Advisors LLC Boosts Stake in Abbott Laboratories (NYSE:ABT)


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Spearhead Capital Advisors LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,081 shares of the healthcare product maker’s stock after acquiring an additional 1,283 shares during the quarter. Spearhead Capital Advisors LLC’s holdings in Abbott Laboratories were worth $8,159,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Atlas Private Wealth Advisors boosted its stake in shares of Abbott Laboratories by 107.3% during the 4th quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock worth $25,000 after acquiring an additional 118 shares in the last quarter. Inspire Advisors LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth about $29,000. Black Swift Group LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $35,000. Krane Funds Advisors LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $39,000. Finally, PrairieView Partners LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $41,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of Abbott Laboratories stock traded down $1.03 during trading on Tuesday, hitting $118.50. 77,123 shares of the stock were exchanged, compared to its average volume of 5,216,047. The stock has a market cap of $209.93 billion, a price-to-earnings ratio of 63.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. The firm’s 50-day moving average price is $120.90 and its 200 day moving average price is $115.19. Abbott Laboratories has a 12-month low of $86.16 and a 12-month high of $128.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.05. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The business had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.72 billion. During the same period in the previous year, the company earned $0.65 EPS. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, research analysts forecast that Abbott Laboratories will post 3.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be given a $0.45 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.52%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 55.56%.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Abbott Laboratories from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Tuesday, April 20th. BTIG Research upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a report on Thursday, January 28th. Atlantic Securities started coverage on Abbott Laboratories in a research note on Wednesday, April 21st. They set a “neutral” rating and a $122.00 target price for the company. Finally, Raymond James raised their price objective on Abbott Laboratories from $126.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $126.06.

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 587 shares of Abbott Laboratories stock in a transaction on Monday, March 1st. The shares were sold at an average price of $120.61, for a total value of $70,798.07. Following the transaction, the executive vice president now directly owns 58,337 shares in the company, valued at $7,036,025.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Randel William Woodgrift sold 1,034 shares of Abbott Laboratories stock in a transaction on Monday, March 1st. The shares were sold at an average price of $120.61, for a total transaction of $124,710.74. Following the completion of the transaction, the senior vice president now owns 51,495 shares in the company, valued at $6,210,811.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,726 shares of company stock valued at $1,064,230. 1.70% of the stock is owned by corporate insiders.

Abbott Laboratories Profile

Abbott Laboratories 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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