ORG Wealth Partners LLC Increases Stake in Abbott Laboratories (NYSE:ABT)

ORG Wealth Partners LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,155 shares of the healthcare product maker’s stock after acquiring an additional 3,371 shares during the quarter. Abbott Laboratories comprises 2.0% of ORG Wealth Partners LLC’s portfolio, making the stock its 5th largest position. ORG Wealth Partners LLC’s holdings in Abbott Laboratories were worth $6,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Vanguard Group Inc. raised its stake in Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock worth $19,075,481,000 after buying an additional 739,260 shares during the period. Capital International Investors raised its stake in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after buying an additional 2,229,026 shares during the period. Capital Research Global Investors raised its stake in Abbott Laboratories by 1.5% during the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock worth $6,118,903,000 after buying an additional 795,073 shares during the period. Geode Capital Management LLC raised its stake in Abbott Laboratories by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock worth $4,023,027,000 after buying an additional 765,636 shares during the period. Finally, Wellington Management Group LLP raised its stake in Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock worth $2,985,233,000 after buying an additional 581,325 shares during the period. 75.18% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were 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 $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on ABT. Wells Fargo & Company raised their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. The Goldman Sachs Group raised their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Finally, Leerink Partners assumed coverage on shares of Abbott Laboratories in a report on Monday. They set a “market perform” rating and a $143.00 price objective on the stock. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.61.

Abbott Laboratories Stock Up 0.1%

Shares of ABT stock opened at $132.35 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm’s fifty day moving average price is $131.91 and its two-hundred day moving average price is $126.66. The firm has a market capitalization of $230.27 billion, a P/E ratio of 17.17, a PEG ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.78%. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

Abbott Laboratories 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.