Abbott Laboratories (NYSE:ABT) Stock Position Lifted by Salvus Wealth Management LLC

Salvus Wealth Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 17.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,134 shares of the healthcare product maker’s stock after acquiring an additional 601 shares during the period. Salvus Wealth Management LLC’s holdings in Abbott Laboratories were worth $470,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ABT. Signature Resources Capital Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. True Wealth Design LLC boosted its position in 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 valued at $35,000 after purchasing an additional 302 shares during the period. Finally, Stuart Chaussee & Associates Inc. increased its position in Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction dated 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 in the company, valued at $22,099,928.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories 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 directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Abbott Laboratories Trading Up 0.3 %

Abbott Laboratories stock traded up $0.28 during midday trading on Tuesday, reaching $105.58. The stock had a trading volume of 582,497 shares, compared to its average volume of 5,666,354. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market cap of $183.67 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 2.54 and a beta of 0.74. The firm’s fifty day simple moving average is $104.97 and its two-hundred day simple moving average is $110.16.

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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same period in the prior year, the firm posted $1.03 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. Raymond James restated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Citigroup decreased their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.64.

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.