Fairvoy Private Wealth LLC Has $3.78 Million Holdings in Abbott Laboratories (NYSE:ABT)

Fairvoy Private Wealth LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 7.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 28,475 shares of the healthcare product maker’s stock after selling 2,250 shares during the period. Abbott Laboratories makes up about 1.0% of Fairvoy Private Wealth LLC’s holdings, making the stock its 28th largest position. Fairvoy Private Wealth LLC’s holdings in Abbott Laboratories were worth $3,777,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Three Seasons Wealth LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $1,428,000. Kelly Financial Services LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $216,000. Voleon Capital Management LP purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock valued at $133,691,000 after buying an additional 57,499 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after buying an additional 2,774 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABT. Royal Bank of Canada lifted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Raymond James increased their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Citigroup boosted their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group boosted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Stock Down 0.8%

ABT stock opened at $135.41 on Friday. 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 has a twelve month low of $99.71 and a twelve month high of $141.23. The firm has a market cap of $235.59 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The business has a 50 day moving average of $131.50 and a 200 day moving average of $126.42.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 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 company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. On average, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.74%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.

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.