Envestnet Asset Management Inc. Has $539.64 Million Stake in Abbott Laboratories (NYSE:ABT)

Envestnet Asset Management Inc. lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,770,917 shares of the healthcare product maker’s stock after acquiring an additional 118,558 shares during the period. Envestnet Asset Management Inc. owned 0.28% of Abbott Laboratories worth $539,638,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Groupama Asset Managment increased its position in Abbott Laboratories by 22.2% in the 3rd 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 in the last quarter. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC increased its holdings 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 acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock worth $15,463,316 over the last three months. 0.46% of the stock is owned by insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $124.46 on Friday. The company has a 50 day moving average of $131.18 and a 200 day moving average of $120.82. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $215.85 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly 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 net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the business earned $1.19 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side 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 Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Barclays restated an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. UBS Group lifted their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

Abbott Laboratories Company 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.