Copperwynd Financial LLC Purchases 7,180 Shares of Abbott Laboratories (NYSE:ABT)

Copperwynd Financial LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 76.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,553 shares of the healthcare product maker’s stock after acquiring an additional 7,180 shares during the period. Copperwynd Financial LLC’s holdings in Abbott Laboratories were worth $1,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Groupama Asset Managment increased its position in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the period. Noble Wealth Management PBC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at about $26,000. NewSquare Capital LLC increased its position in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the period. Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories during the third quarter valued at about $32,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Down 2.2 %

Shares of Abbott Laboratories stock opened at $127.02 on Friday. The company has a market cap of $220.29 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company’s 50 day moving average is $127.16 and its 200 day moving average is $119.38. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.86%. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABT. Evercore ISI upped their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Barclays restated an “overweight” rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Wells Fargo & Company upped 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. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the sale, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,449 shares of company stock worth $15,463,316. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories 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.