Monument Capital Management Grows Holdings in Abbott Laboratories (NYSE:ABT)

by · The Cerbat Gem

Monument Capital Management grew its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 15.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,278 shares of the healthcare product maker’s stock after acquiring an additional 306 shares during the period. Monument Capital Management’s holdings in Abbott Laboratories were worth $302,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $26,000. NewSquare Capital LLC raised its stake in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares during the period. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ABT shares. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Leerink Partners started coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a “market perform” rating and a $143.00 target price on the stock. Bank of America upped their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Citigroup upped their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $142.61.

Get Our Latest Analysis on ABT

Abbott Laboratories Trading Up 0.5%

Shares of Abbott Laboratories stock opened at $134.40 on Monday. The company has a fifty day simple moving average of $132.82 and a 200-day simple moving average of $127.75. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The stock has a market cap of $233.83 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.55 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. On average, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s payout ratio is 30.61%.

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Company Profile

(Free Report)

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.

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