FSB Premier Wealth Management Inc. Sells 99 Shares of Abbott Laboratories (NYSE:ABT)

FSB Premier Wealth Management Inc. lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.8% during the 1st quarter, HoldingsChannel reports. The fund owned 1,979 shares of the healthcare product maker’s stock after selling 99 shares during the period. FSB Premier Wealth Management Inc.’s holdings in Abbott Laboratories were worth $263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. Cim LLC increased its position in Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock valued at $1,919,000 after buying an additional 73 shares in the last quarter. Capital Square LLC grew its stake in shares of Abbott Laboratories by 2.7% in the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock worth $368,000 after acquiring an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC increased its holdings in shares of Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock valued at $507,000 after acquiring an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after purchasing an additional 78 shares in the last quarter. Finally, Opes Wealth Management LLC grew its position in Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.5%

Shares of ABT stock opened at $128.63 on Thursday. The company has a 50 day simple moving average of $131.97 and a two-hundred day simple moving average of $130.17. The stock has a market cap of $223.80 billion, a P/E ratio of 16.12, a P/E/G ratio of 2.43 and a beta of 0.73. Abbott Laboratories has a 12 month low of $103.55 and a 12 month high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the firm earned $1.14 EPS. Abbott Laboratories’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company 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 1.83%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays lifted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Raymond James Financial decreased their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, July 18th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Royal Bank Of Canada boosted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus upped their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.47.

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.