Onyx Bridge Wealth Group LLC Decreases Stake in Abbott Laboratories (NYSE:ABT)

Onyx Bridge Wealth Group LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 4.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,162 shares of the healthcare product maker’s stock after selling 143 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Abbott Laboratories were worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Insight Folios Inc raised its holdings in Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after acquiring an additional 87 shares in the last quarter. Sfmg LLC increased its stake in Abbott Laboratories by 1.9% in the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after purchasing an additional 88 shares during the last quarter. River Street Advisors LLC increased its stake in Abbott Laboratories by 1.2% in the fourth quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock valued at $834,000 after purchasing an additional 88 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Abbott Laboratories by 2.9% in the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after purchasing an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners increased its stake in Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after purchasing an additional 89 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Barclays restated an “overweight” rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, Morgan Stanley raised their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $128.20 on Friday. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The business has a fifty day moving average of $117.06 and a two-hundred day moving average of $114.83. The company has a market cap of $222.36 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter last year, the company earned $1.19 earnings per share. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 30.85%.

About Abbott Laboratories

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.