Abbott Laboratories (NYSE:ABT) Shares Acquired by Wynn Capital LLC

Wynn Capital LLC increased its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,427 shares of the healthcare product maker’s stock after acquiring an additional 98 shares during the quarter. Wynn Capital LLC’s holdings in Abbott Laboratories were worth $390,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. CVA Family Office LLC grew its position in Abbott Laboratories by 7.4% in the 1st quarter. CVA Family Office LLC now owns 6,569 shares of the healthcare product maker’s stock valued at $747,000 after buying an additional 455 shares during the last quarter. Red Spruce Capital LLC grew its position in Abbott Laboratories by 8.2% in the 1st quarter. Red Spruce Capital LLC now owns 31,404 shares of the healthcare product maker’s stock valued at $3,569,000 after buying an additional 2,388 shares during the last quarter. Parkside Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth $202,000. Marcum Wealth LLC boosted its position in shares of Abbott Laboratories by 6.0% during the 1st quarter. Marcum Wealth LLC now owns 5,445 shares of the healthcare product maker’s stock worth $619,000 after purchasing an additional 309 shares in the last quarter. Finally, Fragasso Group Inc. boosted its position in shares of Abbott Laboratories by 2.9% during the 1st quarter. Fragasso Group Inc. now owns 5,788 shares of the healthcare product maker’s stock worth $658,000 after purchasing an additional 163 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on ABT shares. Citigroup decreased their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Get Our Latest Report on ABT

Abbott Laboratories Trading Down 0.8 %

Shares of NYSE ABT traded down $0.85 on Friday, reaching $105.72. 10,329,146 shares of the company traded hands, compared to its average volume of 5,224,383. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a 50 day moving average of $105.04 and a 200 day moving average of $110.07. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $183.91 billion, a PE ratio of 32.93, a P/E/G ratio of 2.56 and a beta of 0.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

About Abbott Laboratories

(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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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