Abbott Laboratories (NYSE:ABT) Shares Bought by Aprio Wealth Management LLC

Aprio Wealth Management LLC increased its position in Abbott Laboratories (NYSE:ABT) by 33.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,435 shares of the healthcare product maker’s stock after acquiring an additional 868 shares during the period. Aprio Wealth Management LLC’s holdings in Abbott Laboratories were worth $390,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ABT. Signature Resources Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. True Wealth Design LLC increased its stake in shares of Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. raised its position in shares of Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $105.70 on Friday. The company has a market cap of $183.88 billion, a P/E ratio of 32.93, a P/E/G ratio of 2.56 and a beta of 0.74. The firm’s 50 day moving average is $105.04 and its two-hundred day moving average is $110.07. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. Analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $0.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.08%. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABT shares. Citigroup dropped their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Barclays dropped their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $120.64.

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.