Edge Financial Advisors LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Edge Financial Advisors LLC raised its position in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,530 shares of the healthcare product maker’s stock after buying an additional 81 shares during the period. Edge Financial Advisors LLC’s holdings in Abbott Laboratories were worth $336,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of ABT opened at $133.99 on Tuesday. The company has a market capitalization of $233.12 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $131.70 and a 200 day moving average of $126.58. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced 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. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share 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. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Wall Street Analyst Weigh In

ABT has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Raymond James upped their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Wells Fargo & Company increased their price target 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. Finally, The Goldman Sachs Group lifted their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.61.

About Abbott Laboratories

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.