Abbott Laboratories (NYSE:ABT) Shares Acquired by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 84.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,564 shares of the healthcare product maker’s stock after buying an additional 37,715 shares during the quarter. Abbott Laboratories comprises about 0.9% of WealthPlan Investment Management LLC’s holdings, making the stock its 27th biggest holding. WealthPlan Investment Management LLC’s holdings in Abbott Laboratories were worth $7,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ABT. Zevenbergen Capital Investments LLC increased its holdings in shares of Abbott Laboratories by 0.6% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after acquiring an additional 130 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Abbott Laboratories by 9.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,415,759 shares of the healthcare product maker’s stock valued at $154,346,000 after acquiring an additional 126,547 shares during the period. Rockland Trust Co. increased its holdings in shares of Abbott Laboratories by 1.5% in the 3rd quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after acquiring an additional 1,343 shares during the period. Whittier Trust Co. increased its holdings in shares of Abbott Laboratories by 1.4% in the 3rd quarter. Whittier Trust Co. now owns 373,375 shares of the healthcare product maker’s stock valued at $36,161,000 after acquiring an additional 5,058 shares during the period. Finally, Riverview Capital Advisers LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at $210,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $111.81 on Friday. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $115.83. The company has a quick ratio of 1.23, a current ratio of 1.74 and a debt-to-equity ratio of 0.38. The firm’s 50-day simple moving average is $110.62 and its 200 day simple moving average is $104.03. The firm has a market capitalization of $194.11 billion, a PE ratio of 34.30, a P/E/G ratio of 2.73 and a beta of 0.75.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.84%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.19 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that Abbott Laboratories will post 4.61 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.97%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is 67.48%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $108.00, for a total transaction of $1,620,000.00. Following the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $7,022,916. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley dropped their price objective on shares of Abbott Laboratories from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 19th. Raymond James boosted their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Citigroup boosted their price objective on shares of Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Finally, UBS Group lowered their price target on shares of Abbott Laboratories from $130.00 to $118.00 in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $120.00.

View Our Latest Report on ABT

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 Established Pharmaceutical Products segment 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.

See Also

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

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