UP Strategic Wealth Investment Advisors LLC Acquires New Holdings in Abbott Laboratories (NYSE:ABT)

UP Strategic Wealth Investment Advisors LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,368 shares of the healthcare product maker’s stock, valued at approximately $268,000.

A number of other institutional investors have also made changes to their positions in the stock. Morse Asset Management Inc purchased a new position in shares of Abbott Laboratories during the third quarter worth $380,000. Tudor Financial Inc. acquired a new position in Abbott Laboratories in the 3rd quarter valued at about $302,000. Anchor Investment Management LLC lifted its position in shares of Abbott Laboratories by 2.9% during the third quarter. Anchor Investment Management LLC now owns 54,237 shares of the healthcare product maker’s stock worth $6,184,000 after purchasing an additional 1,509 shares in the last quarter. Fulcrum Equity Management acquired a new position in shares of Abbott Laboratories in the third quarter valued at approximately $239,000. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of Abbott Laboratories by 32.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 332,189 shares of the healthcare product maker’s stock worth $37,873,000 after acquiring an additional 81,669 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $129.38 on Friday. The company has a market cap of $224.39 billion, a P/E ratio of 16.91, a PEG ratio of 2.52 and a beta of 0.80. The company has a 50-day moving average price of $130.57 and a 200 day moving average price of $122.31. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Research analysts predict 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 Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.82%. Abbott Laboratories’s payout ratio is 30.61%.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Bank of America lifted their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

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.