Institute for Wealth Management LLC. Has $1.04 Million Position in Abbott Laboratories (NYSE:ABT)

Institute for Wealth Management LLC. trimmed its position in Abbott Laboratories (NYSE:ABT) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,861 shares of the healthcare product maker’s stock after selling 705 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Abbott Laboratories were worth $1,043,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ABT. Redwood Park Advisors LLC bought a new position in Abbott Laboratories during the 4th quarter worth $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $26,000. NewSquare Capital LLC raised its stake in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $29,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the business’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 transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $132.35 on Friday. The stock has a market cap of $230.27 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 2.51 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company’s fifty day moving average is $132.07 and its 200 day moving average is $126.76.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.78%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ABT shares. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Citigroup upped their target price on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group lifted their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley upped their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.61.

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.